Being one of the first retail companies to accept cryptocurrencies as a payment, Overstock.com’s stock greatly appreciated during the crypto bubble of 2017.
However, it took a hit from two directions later on. First, its competitor, Amazon, took no prisoners in the retail category. Then, the burst of the Bitcoin bubble took any advantages away from Overstock.com. But now, it seems like things may be changing.
After Overstock’s tZero announced the launch of its new crypto wallet and exchange, Overstock.com’s shares finally broke above the daily Ichimoku Cloud. The future cloud is bullish and technical analysis is indicating a bullish reversal Saucer Bottom chart pattern. For more on Ichimoku strategy development, don’t forget to grab the PDF version of my book, Ichimoku Secrets.
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