OPEN TEXT CORP (OTEX) Stock Technical Analysis
NASDAQ:OTEX - CA6837151068 - Common Stock
33.07 USD
+0.1 (+0.3%)
33.07 USD
0 (0%)
We assign a technical rating of 8 out of 10 to OTEX. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, OTEX is only an average performer.
Both the short term and long term trends are positive. This is a very positive sign.
OTEX is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so OTEX is lagging the market slightly.
In the last month OTEX has a been trading in the 27.99 - 33.37 range, which is quite wide. It is currently trading near the high of this range.
OTEX has an average volume of 1324060 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, OTEX outperforms 66% of them, which is more or less in line with the market.
OTEX is part of the Software industry. There are 282 other stocks in this industry, OTEX did better than 62% of them.
OTEX has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
27.10
33.41
When analyzing the support we can see 3 important areas.
- Support @29.11 from a trend line in the daily time frame.
- A support zone ranging from 27.95 to 28.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @27.37 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 33.08 to 33.08. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 OTEX is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OTEX is up. |
| ChartMill Relative Strength | 66.62 | NEUTRAL | OTEX is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OTEX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OTEX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of OTEX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.2 | NEUTRAL | The RSI value for OTEX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.16 | POSITIVE | The MACD value suggests OTEX has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 94.09 | OVERBOUGHT | The high Stochastics value suggests OTEX may be overbought. |
| Average True Range in percent/ATR (20) | 2.89 | MEDIUM VOLATILITY | The ATR as a percentage value for OTEX suggests some volalility. |
| Average Directional Index/ADX (14) | 29.94 | POSITIVE | The high ADX value value for OTEX suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 33.09 | 31.25 | 1.84 (5.56%) | 17.98% |
| An entry @33.09. This is a Buy Stop order right above the resistance zone. | An exit @31.25. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.84 points, which is 5.56%. | For a 1.00% total portfolio risk, you can invest 17.98% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
33.07
+0.1 (+0.3%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.3%
1 Week1.35%
2 Weeks4.35%
1 Month16.53%
3 Month16.81%
6 Month28.08%
12 Month3.93%
2 Year-17.86%
3 Year5.05%
5 Year-27.13%
10 Year45.94%
15 Year200.64%
Volatility
ATR(14)0.74
ATR(20)%2.89%
ATR Inc-59.12%
Range Today0.45
ADR(20)0.88
ADR(20)%2.67%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS66.62
Mansfield0.42
10 Day High33.37
10 Day Low31.26
20 Day High33.37
20 Day Low27.99
52 Week High34.2
52 Week Low22.79
CS1 End29.11
CR1 Start33.08
Volume & EV
DER(3)1.14%
DER(5)-1.26%
Volume1.49M
Volume Incr-15.14%
Vol(5)1.32M
Vol(50)1.32M