Open Text Corp T.OTEX

Alternate Symbol(s): OTEX

Technology Software - Application

OpenText Corporation is a Canada-based information management company, which provides software and services. The Company’s comprehensive Information Management platform and services provide secure and scalable solutions for global companies, small and medium-sized businesses (SMBs), governments and consumers around the world. It has a complete and integrated portfolio of information management solutions delivered at scale in the OpenText Cloud, enabling organizations master modern work, automate application delivery and modernization, and optimize their digital supply chains by bringing together content cloud, cybersecurity cloud, business network cloud, its operations management cloud, application automation cloud and analytics and artificial intelligence cloud. The Company’s solutions range from connecting digital supply chains to managing human resource processes to driving better information technology service management in manufacturing, retail, and financial services.

TSX:OTEX - Post by User

Open Text Corp

Bullboard Posts

Next >>

Post by retiredcfon May 26, 2020 6:02am

208 Views

Post# 31071749

Technical Analysis

DAILY MARKET REPORT

Open Text Corp forms bullish "Bottom Triangle" chart pattern
May 25, 2020

Recognia has detected a "Bottom Triangle" chart pattern formed on Open Text Corp (OTEX:TSX). This bullish signal indicates that the stock price may rise from the close of $57.02 to the range of $69.00 - $72.00. The pattern formed over 45 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: The price seems to have reached a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation. A Bottom Triangle shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks above the upper trendline with a noticeable increase in volume, confirming this bullish pattern as a reversal of the prior downtrend.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.