Taking everything into account, OTEX scores 0 out of 10 in our technical rating. OTEX scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- 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: 86% of all stocks are doing better.
- OTEX is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month OTEX has a been trading in the 25.45 - 33.69 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.
- Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
- OTEX has an average volume of 1121370 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 278 other stocks in this industry, OTEX did better than 54% of them.
The technical rating of OTEX is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
25.27
3 important resistance areas can be observed.
- Resistance @28.99 from a horizontal line in the daily time frame.
- A resistance zone ranging from 31.58 to 32.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- 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 | 14.14 | NEGATIVE | OTEX has a low relative strength, it was outperformed by 85.86% 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) | 16.16 | OVERSOLD | The low RSI value suggests OTEX may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.45 | NEGATIVE | The MACD value suggests OTEX has a negative trend. |
| Stochastics (14,3) | 3.3 | OVERSOLD | The low Stochastics value suggests OTEX may be oversold. |
| Average True Range in percent/ATR (20) | 3.77 | MEDIUM VOLATILITY | The ATR as a percentage value for OTEX suggests some volalility. |
| Average Directional Index/ADX (14) | 45 | POSITIVE | The high ADX value value for OTEX suggests a strong trend. |
25.53
-0.85 (-3.22%)
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 16.1579. This indicates that the stock is currently oversold.
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 28.99. Check the full technical report for our detailed analysis of OTEX support and resistance levels.