OPEN Technical Analysis - OPENDOOR TECHNOLOGIES INC

Technical Rating and Analysis

Taking everything into account, OPEN scores 8 out of 10 in our technical rating. In the last year, OPEN was one of the better performers, but we do observe some doubts in the very recent evolution.

In the last month OPEN has a been trading in the 6.91 - 10.28 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.

When comparing the yearly performance of all stocks, we notice that OPEN is one of the better performing stocks in the market, outperforming 98% of all stocks.

OPEN is part of the Real Estate Management & Development industry. There are 63 other stocks in this industry. OPEN outperforms 100% of them.

OPEN has an average volume of 305101000 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

OPEN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so OPEN is lagging the market.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

OPENDOOR TECHNOLOGIES INC / OPEN Weekly stock chart

OPENDOOR TECHNOLOGIES INC / OPEN Daily stock chart

Setup Rating and Analysis

Although OPEN has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

7.03

8.90

When analyzing the support we notice one important area.

A support zone ranging from 7.10 to 7.10. This zone is formed by a combination of multiple trend lines in multiple time frames.

We found 1 important resistance area.

Resistance @8.81 from a trend line in the daily time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for OPEN is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for OPEN is neutral.
ChartMill Relative Strength	98.85	POSITIVE	OPEN has a high relative strength, it outperformed 98.85% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of OPEN is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of OPEN is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of OPEN is above the rising SMA(200).
Relative Strength Index/RSI (14)	46.17	NEUTRAL	The RSI value for OPEN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.32	NEGATIVE	The MACD value suggests OPEN has a negative trend.
Stochastics (14,3)	14.95	OVERSOLD	The low Stochastics value suggests OPEN may be oversold.
Average True Range in percent/ATR (20)	13.06	HIGH VOLATILITY	The high ATR as a percentage value for OPEN suggests high volalility.
Average Directional Index/ADX (14)	31.45	POSITIVE	The high ADX value value for OPEN suggests a strong trend.