OPEN TEXT CORP (OTEX) Stock Technical Analysis
USA - NASDAQ:OTEX - CA6837151068 - Common Stock
Overall OTEX gets a technical rating of 8 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
Although OTEX has an excellent technical rating, it does not present a decent entry opportunity 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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27.67
When analyzing the support we can see 4 important areas.
- A support zone ranging from 37.03 to 37.18. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @31.90 from a trend line in the daily time frame.
- Support @30.83 from a trend line in the daily time frame.
- A support zone ranging from 27.95 to 27.95. This zone is formed by a combination of multiple trend lines in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 38.63 to 39.70. This zone is formed by a combination of multiple trend lines and important moving averages 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 | NEUTRAL | NEUTRAL | The short term trend for OTEX is neutral. |
| ChartMill Relative Strength | 86.25 | POSITIVE | OTEX has a high relative strength, it outperformed 86.25% 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) | 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) | 41.92 | NEUTRAL | The RSI value for OTEX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.35 | NEGATIVE | The MACD value suggests OTEX has a negative trend. |
| Stochastics (14,3) | 19.71 | OVERSOLD | The low Stochastics value suggests OTEX may be oversold. |
| Average True Range in percent/ATR (20) | 2.1 | MEDIUM VOLATILITY | The ATR as a percentage value for OTEX suggests some volalility. |
| Average Directional Index/ADX (14) | 32.34 | POSITIVE | The high ADX value value for OTEX suggests a strong trend. |
37.19
-0.98 (-2.57%)
OPEN TEXT CORP / OTEX FAQ
What is the ChartMill technical rating of OPEN TEXT CORP (OTEX) stock?
ChartMill assigns a technical rating of 8 / 10 to OTEX.
Can you provide the trend direction for OPEN TEXT CORP?
The current trend direction for OPEN TEXT CORP (OTEX) is Bullish.
What is the RSI signal for OTEX stock?
OPEN TEXT CORP (OTEX) has an RSI value of 41.9188. This indicates that the stock is currently neutral.
What is the MACD signal for OPEN TEXT CORP (OTEX) stock?
The MACD indicator for OPEN TEXT CORP (OTEX) has a value of -0.348598, indicating a bearish trend.