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Where Will Open Text Corp (OTEX) Stock Go Next After It Is Down 6.50% in a Week?

Monday, November 29, 2021 01:15 PM | InvestorsObserver Analysts
Where Will Open Text Corp (OTEX) Stock Go Next After It Is Down 6.50% in a Week?

Open Text Corp (OTEX) stock is lower by 6.50% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator.

Sentiment Score - ,bearish
Open Text Corp has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on OTEX!

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. 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 $48.74 as of 1:13 PM on Monday, Nov 29, a gain of $0.52, or 1.08% from the previous closing price of $48.22. The stock has traded between $48.30 and $49.01 so far today. Volume today is low. So far 310,582 shares have traded compared to average volume of 416,222 shares.

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 Report for Open Text Corp stock.

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