Open Text Corp (OTEX) stock is up 0.81% over the past week and gets a Bearish rating from InvestorsObserver's Sentiment Indicator.
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With OTEX Stock Today?
Open Text Corp (OTEX) stock is trading at $47.48 as of 1:36 PM on Friday, May 7, an increase of $0.96, or 2.06% from the previous closing price of $46.52. The stock has traded between $46.44 and $47.90 so far today. Volume today is 451,483 compared to average volume of 469,725.
To see InvestorsObserver's Sentiment Score for Open Text Corp 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.
Click Here to get the full Stock Score Report on Open Text Corp (OTEX) Stock.
