Open Text Corp (OTEX): Price Now Near $47.86; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for OTEX

At the time of this writing, OTEX (Get Ratings)’s price is up $0.03 (0.06%) from the hour prior. This is the 3rd hour in a row OTEX has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

OTEX ranks 18th in terms of today’s price percentage change out of Computers stocks.

OTEX’s Technical Outlook on the Daily Chart

Currently, OTEX’s price is up $0.2 (0.41%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows OTEX’s price action over the past 90 days.

OTEX

For OTEX News Traders

News traders keeping an eye on OTEX may find value in this recent story:

OpenText Launches Webroot Business Management Console 6.0

OpenText™ (NASDAQ: OTEX), (TSX: OTEX) announced the release of the new Webroot® Business Management Console that offers managed service providers (MSPs) and small and medium sized businesses (SMBs) a more streamlined and intuitive user experience when optimizing, executing and managing key layers of security.

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