Will STX OSV Go Below IPO Share Price?

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STX OSV has been in a very fierce selling off since breaking the neckline support of a head and shoulder pattern. Will STX OSV go below the IPO price of $0.79? If yes, what is the target price? Using Fibonacci Retracement is able to predict the next support below the IPO price:

  • $0.557 (123.6% FR)
  • $0.444 (138.2% FR)
  • $0.353 (150% FR)

Time will tell whether this Fibonacci Retracement works.

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STX OSV: Sell Down with High Volume!

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STX OSV has a massive sell down on last trading day. The stock is currently testing the uptrend channel support and the 61.8% FR support at about $1.216. This uptrend support is also the neckline of a skewed Head and Shoulders chart patten (can you see it?). Breaking this neckline support will send STX OSV to breakdown target price of about $1.00.

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STX OSV: At 50D MA Support

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STX OSV is currently sitting at the 50D MA support. Watch this support at about $1.16 closely because the MACD is weakening. Breaking below this support may start down trend for STX OSV.

Note: There is only 6 months data for STX OSV so that support and resistance may not be too reliable.

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