OTEX clear bearish analysis1. recovered 64% from 2021 crash in 2022
2. Impulsive move rejected at 0.618 Fibonacci
3. Top of the Fibonacci is aligned with rising trend line
4. Rising trend line reject and broken
5. Two bearish Fibonacci broken
Target should could be 0.618 around 27.50
P.S not financial advice. trade save and at your own risk.
OTEX trade ideas
OTEX long positionOpen Text Corporation has been in an uptrend.
The price is close to the upsloping support therefore it may be a good entry for a long position
Target: 47,50$
The price closed below the channel but it came back inside the channel again so the uptrend continuation is likely.
However another close below the channel could be a sign of the trend reversal and it would be an invalidation of this trading idea.
Good luck
OTEX Has A Falling Wedge-Bars!OTEX Has A Falling Wedge-Bars!
I am not a rapper but I am a technical analyst who spotted a falling wedge on OTEX. LOL! Don't you worry I will stick to technical analysis and listen to bars as I chart. You can uncover your ears now.
*Patterns Identified- Double Bottom and Falling Wedge pattern.
Short Float 1.14% as of 31 May 2022.
I will enter a long position (with the intent to swing) AFTER the break of the upper channel.
Potato wedges sound good right about now. I'd like a few to "fall" into my stomach tonight lol! I've worked up an appetite.
*This is not financial advice.
Wedges,
MrALtrades00
ABC BullishEarnings were yesterday. Appears they beat EPS and revenue.
As a rule, OTEX is a slower mover and not a rocket stock. Slow steady long term uptrend on maximum monthly timeframe.
Possible stop under C or last pivot low or where you see support.
William's alligator is tangled but does appear to be waking up. When this indicator wakes up after hibernation, the story is the gator is hungry and will either go up to the surface to eat or down in deeper water to eat. The gator gains strength while the 3 moving averages, 5, 8 and 13, are sleeping and intertwined. When he awakens, the moving averages will spread out or open and give you and idea of where the gator wants to have his next meal. This is still a bit tangled, but will eventually open in one direction or the other. Sometimes you can get a hint when the 5 (red/gator lips) cross up through the 8 (teeth/White) and or the 13 (blue/Jaw).
No recommendation.
OTEX good dip to buyOTEX stock has fallen from an all time high from 50$ down to 46.50 area. This is a really good discount and analyst estimate a future price of $55-58. For this trade, you can buy a cheap May option for around 3.40$ per contact and has a high chance of bringing more than 50% return in the short.
Technical info:
Stock made a new all time high on 2/8
Stock has fallen about 6.5% from all time high (buy the dip area)
RSI is at 39 which not oversold territory, but I do not think the stock will fall much further.
OPEN TEXT CO Analysis Hey guys, OPEN TEXT CO is in a bullish movement with a return of buy volume issued and a form of marubozu followed by buyers. In the TIMEFRAME M1 we see a marubozu with a large purchase volume made it came to test the top of a comfort zone. It is very plausible to breakout the price with a return of momentum at the same time the zone to interfere in the next one. And rise to make a new all-time high, with the test of the bullish channel accompanying the upper comfort zone. For the symbolic figure of 49.00 which is a sore point in the old bollinger spread.
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OPEN TEXT Opportunity DailyHey traders, OPEN TEXT is in a fake bearish push with a pickup in traded buying volume and sellers' wickedness. Looking at the TIMEFRAME M1 we see a marubozu with a high volume of purchases executed. Great potential to test again the consolidation zone for finally the breakout to interfere in the one above. And arrival on the last highest with the height of a bearish breaking gap (See MULTI TIMEFRAME also H4 and H1).
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V BottomEarnings 8-6 AMC
Long term uptrend before crash
Lacked volatility as a rule
Not a recommendation
Open Text Corporation provides a suite of software products and services. The company offers content services; business network, a cloud-based platform that facilitates collaboration and exchange of information inside and outside of organizations; artificial intelligence and analytics solutions; and OpenText EIM platform that provides multi-level, multi-role, and multi context security information platforms. OpenText also provides digital process automation, which enables organizations to transform into digital data-driven businesses through automation; Customer Experience Management, a set of processes used to track customer interactions throughout the customer journey; Magellan, an artificial intelligence (AI) and analytics platform that combines open source machine learning with advanced analysis and is able to merge, manage, and analyze both structured and unstructured, textual content; and Discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk. In addition, the company offers customer support programs that include access to software upgrades, a knowledge base, discussions, product information, and an online mechanism to post and review trouble tickets. Further, it provides professional services, such as consulting and learning services relating to the implementation, training, and integration of its licensed product offerings into the customers' systems, as well as cloud services. The company serves organizations, enterprise companies, mid-market companies, and public sector agencies worldwide. It has strategic partnerships with SAP SE, Microsoft Corporation, Oracle Corporation, Salesforce.com Corporation, Accenture plc, Deloitte Consulting LLP, Tata Consultancy Services, ATOS, and Ernst & Young. The company was founded in 1991 and is headquartered in Waterloo, Canada.
OTEX was a top quarterly gainer. Expect an Uptrend continuationOpen Text (OTEX, $42.72) was one of top quarterly gainers, jumping +40.07% to $42.72 per share. My A.I.dvisor analyzed 154 stocks in the Packaged Software Industry over the last three months, and discovered that 150 of them (97.67%) charted an Uptrend while 4 of them (2.33%) trended down. My A.I.dvisor found 95 similar cases when OTEX's price jumped over 15% within three months. In 72 out of those 95 cases, OTEX's price went up during the following month. Based on these historical data, my A.I. thinks the odds of an Uptrend continuation for OTEX are 76%.
OTEX-ideal break and pullbackA stock with good fundamentals has broke historical level and is doing and ideal pullback.
Company Fundamentals
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EPS % Chg (Last Qtr) 23%
3 Year EPS Growth Rate 19%
EPS Est % Chg (Current Yr) 15%
Annual ROE 27.31%
Sales % Chg (Last Qtr) 29%
3-Year Sales Growth Rate 16%
Market Cap $7.40 Bil
Profit Margin 29.2%
Sector software
Industry Group Rank 11
Industry Group Computer Sftwr-Database