OPEN TEXT CORP (OTEX) Stock Technical Analysis
NASDAQ:OTEX • CA6837151068
Overall OTEX gets a technical rating of 0 out of 10. OTEX's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- When comparing the yearly performance of all stocks, OTEX is a bad performer in the overall market: 83% of all stocks are doing better.
- OTEX is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- In the last month OTEX has a been trading in the 22.44 - 29.17 range, which is quite wide. It is currently trading near the lows of this range.
- OTEX has an average volume of 1748640 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- OTEX is part of the Software industry. There are 274 other stocks in this industry, OTEX did better than 66% of them.
OTEX has a poor technical rating and the quality of the setup is also not perfect at the moment. We see reduced volatility while prices have been consolidating in the most recent period.
More info and screens
23.48
We can see 4 important resistance areas.
- A resistance zone ranging from 24.62 to 25.11. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @26.06 from a horizontal line in the daily time frame.
- Resistance @30.21 from a trend line in the daily time frame.
- Resistance @33.77 from a horizontal line in the daily time frame.
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 | DOWN | NEGATIVE | The long term trend for OTEX is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for OTEX is down. |
| ChartMill Relative Strength | 17.01 | NEGATIVE | OTEX has a low relative strength, it was outperformed by 82.99% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of OTEX is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of OTEX is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of OTEX is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 34.36 | NEUTRAL | The RSI value for OTEX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.22 | POSITIVE | The MACD value suggests OTEX has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 45.24 | NEUTRAL | The Stochastics value for OTEX is a neutral value. |
| Average True Range in percent/ATR (20) | 5.21 | HIGH VOLATILITY | The high ATR as a percentage value for OTEX suggests high volalility. |
| Average Directional Index/ADX (14) | 43.1 | POSITIVE | The high ADX value value for OTEX suggests a strong trend. |
23.72
-1.04 (-4.2%)
OPEN TEXT CORP / OTEX FAQ
What is the ChartMill technical rating of OPEN TEXT CORP (OTEX) stock?
ChartMill assigns a technical rating of 0 / 10 to OTEX.
What is the current trend direction of OPEN TEXT CORP (OTEX) stock?
The current trend direction for OPEN TEXT CORP (OTEX) is Bearish.
Can you provide the RSI signal for OPEN TEXT CORP?
OPEN TEXT CORP (OTEX) has an RSI value of 34.3581. This indicates that the stock is currently neutral.
What is the buy/sell signal for OPEN TEXT CORP (OTEX) stock?
The buy/sell signal for OPEN TEXT CORP (OTEX) is sell as both the short term and long term trends are negative.
Can you provide the support and resistance levels for OPEN TEXT CORP?
OPEN TEXT CORP (OTEX) has a resistance level at 24.62. Check the full technical report for our detailed analysis of OTEX support and resistance levels.