Overall market sentiment has been down on Open Text Corp (OTEX) stock lately. OTEX receives a Bearish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With OTEX Stock Today?
Open Text Corp (OTEX) stock is trading at $48.09 as of 3:31 PM on Tuesday, Apr 27, a rise of $0.38, or 0.8% from the previous closing price of $47.71. Volume today is 401,456 compared to average volume of 452,131. The stock has traded between $47.29 and $48.21 so far today.
To see the top 5 stocks in the Software - Application industry click here.
More About Open Text Corp
Open Text Corp grew out of a technology project involving the Oxford English Dictionary at Canada's University of Waterloo in the mid-1980s. Its software allows clients to archive, aggregate, retrieve, and search unstructured information (such as documents, e-mail, presentations). The company is based in Ontario, Canada.
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