February 19, 2019

Crypto Making A Comeback?

Overstock (OSTK) is a name familiar to those that played around in the Bitcoin craze. OSTK made a huge move in 2017 and just as big of a move down in 2018. Now investors are coming back into the name? Why you may ask? Because they are foregoing their e-commerce business and opened a Crypto exchange called “tZERO”. This is their main baby and frankly all they have. I expect the company to move in sympathy with BTC (Bitcoin) and it can be a leading indicator for the stock price. Keep a close eye on this name. I like the upside and I think there is another 20% from here.

 

about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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