Open Text Corp (OTEX): Price Up $0.08 (0.17)% Over Past Day, Up $0.11 (0.23)% Over Past Hour

The Hourly View for OTEX

At the time of this writing, OTEX (Get Ratings)’s price is up $0.11 (0.23%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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’s Technical Outlook on the Daily Chart

At the moment, OTEX’s price is up $0.08 (0.17%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as OTEX has now gone up 4 of the past 5 days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. The moving averages on the daily 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. Open Text Corp’s price action over the past 90 days can be seen via the chart below.

OTEX

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