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OPENDOOR TECHNOLOGIES INCOPENDOOR TECHNOLOGIES INCOPENDOOR TECHNOLOGIES INC

OPENDOOR TECHNOLOGIES INC

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OPEN1 trade ideas

OPENDOOR ASCENDING TRIANGLE & BULLFLAGTrend: The pennant chart pattern which formed yesterday was broken today. Unfortunately, there wasn't enough demand to drive the price up any further. A new pattern has emerged on this one hour chart, and that is the ascending wedge charted as bright yellow lines that form a triangular shape. Once the ascending wedge was drawn, I was able to see a bullflag pattern. Bullflag patterns are similar to pennants and both signal trend continuation. Indicators: The SSL indicator is still showing a red line so the price action is still more bearish then bullish. The STC indicator is already deep into over bought zones and signals more consolidation. The Didi indicator signalled a buy recently at around 2.93 to 3.0. The Didi and SSL hybrid both gave a signal to buy roughly the same time, so 2.93 to 3.0 should be a good price point currently. Thoughts: Monday is a non trading day so there should be some pent up demand to buy when markets open Tuesday. The price formed a bull flag, so hold on for a bit longer until consolidation breaks hopefully to the upside.
NASDAQ:OPENLong
by targetrocketship
OPENDOOR PENNANTS CHART PATTERN FORMINGTrend: Bullish pennants are usually a chart pattern that signals breakouts to the upside in a bullish market. The price action typically trades sideways inside the channel until it breaks out of the channel. As the pattern is forming on the one hour chart, we can expect to see some sideways trading until the breakout. Indicators: The price touched the 50% level on the fib level chart and bounced back to the 38% level showing strong support at the moment. The SSL Hybrid indicator shows a red line and red candles indicating momentum still being bearish. The STC indicator shows that the momentum is bullish but is nearing overbought zones. The Didi indicator supports the idea of the bearish momentum coming to an end and reversing into bullish momentum, Thoughts: The bullish pennant pattern will be fully formed soon, and if markets are positive, we should see another breakout!
NASDAQ:OPENLong
by targetrocketship
OPENDOOR - Breakout ConfirmedTrend: Price action has broken out of the channel created which indicates possible continuation of the current uptrend. Indicators: The STC indicator is green and heading toward overbought territory. The STC line can remain in overbought territory when bull markets occur. The Zigzag indicator doesn't recognize the recent high as the peak of the zigzag, so there is a possibility for more upside. The SSL hybrid indicator shows a shift from a solid set of red candles into a set of blue candles which reflects the short term trend. Thoughts: The chart showed a classic technical analysis pattern of resistance becoming support. The price action was moving in the channel shown on the chart, and the line that marks the top of the channel was the resistance line. The price broke through today and is holding above that line.
NASDAQ:OPENLong
by targetrocketship
OPENDOOR BULLS ARE BACK!!OPENdoor stock has recently been doing alot of consolidation. In this current chart, the STC indicator has shown that there is a buy opportunity as it has changed from red to green. The green line has also crossed the bottom 25% line on the STC indicator. When a green line crosses that area, there is usually price action toward the upside. The SSL hybrid indicator has also shown that the candles has changed from red to gray and is now blue. This is a strong indicator of possible trend reversals. With the channel formed from the recent tops and bottoms, OPEN is sitting exactly in the middle. This can mean that OPEN has an even chance of dropping lower in the channel or rising higher in the channel. The SSL Hybrid indicator also shows that OPEN is sitting above the MA baseline which is bullish momentum. The zigzag indicator for this 4H chart indicates that we may still be heading toward the upside because the zigzag indicator did not recognize the recent high as a high point on the zigzag. By combining the signals from the STC indicator, ZigZag, and SSL hybrid indicator, there are more signs of rising price action then falling price action. Price movement can be unpredictable and can always make moves like bull traps, and bear traps. The 4H chart helps see the general trend over a longer time frame so you can better understand the market.
NASDAQ:OPENLong
by targetrocketship
OPEN broke out of rising wedge & may test supportOPENDOOR Recently this stock tested resistance and got rejected toward the downside. The downside rejection has caused the price to move outside of the rising wedge. The price may fall rapidly to test support levels which were previous highs on the chart. Usually a breakout causes rapid change in price movement to either the upside or downside. In this case, the breakout to the downside may be further extended until the price reaches a strong level of support. The 3 hour chart of OPEN with the echo indicator predicts a possible outcome which I agree with. The echo indicator predicts future price movements with dotted lines on the chart.
NASDAQ:OPENShort
by targetrocketship
LONG OPENDOOR POSSIBLE BREAKOUT ON ECHO INDICATORThe echo indicator predicts possible price movement indicated by a line of dots on the graph. OPEN appears to be in a rising wedge but also in a ascending triangle. This one hour chart predicts a breakout in OPEN. The 4H chart of open shows that the stock may only move up a little before dipping to major support levels at 2.20. The echo indicator has provided two different outcomes and the graph here shows the more bullish version, or possibility. The current trend is upward, which leads me to believe that we should be testing the upper resistance levels instead of the lower support levels.
NASDAQ:OPENLong
by targetrocketship
OPENDOOR UPWARD CHANNEL FORMEDOPEN This stock has been in a downward trend for a long time, but it seems like a trend reversal may have appeared. The Williams %R indicator shows that the stock is currently trading at oversold values. This is a good sign for those who are trying to enter the trade as the fib retracement levels are already around 50%. I have marked a channel formation in the current graph to show the general trend in the 4H chart. There is also horizontal lines to show the previous highs. This stock may also be in an ascending wedge which can be a future indicator of the price breaking out and dropping into a lower level for support. As long as the price movements stay within the channel formed, we should be seeing some movement toward the upside.
NASDAQ:OPENLong
by targetrocketship
3
Opendoor - powerful bullish ButterflyLooks like Opendoor's stock is shaping up to form a Butterfly pattern! If you're familiar with this symmetrical chart pattern, you'll know that it can signal a potential reversal in the stock's current trend. So, for those of you who believe in the power of technical analysis, this could be seen as a bullish signal for Opendoor's future stock price. Of course, as with any trading strategy, it's important to use multiple forms of analysis and not rely solely on chart patterns. But hey, let's enjoy this moment of Butterfly bliss while it lasts!
NASDAQ:OPENLong
by patryk2808
OPEN - Falling wedge (potential breakup)OPEN has been in a falling wedge for almost 6 months now and is approaching closer to the apex of the wedge. A falling wedge breakup may not necessarily work out well (ie it could continue to drift sideways once the wedge converge and it was "forced" out of the wedge eventually. However a clue that this wedge breakup could work is the higher volume that we see in the past 1.5 weeks as the stock trades in small and tight range (accumulation). So let's see! p/s a break up but subsequent fall back into the wedge below the recent low @ 4.28 confirms a failure of this breakup. (though I feel this odd is lower now). Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:OPEN
by Juliac
3