Bullish Moving Average Cross by Open Text (OTEX)
Today, shares of Open Text (NASDAQ:OTEX) have crossed bullishly above their 10-day moving average of $62.94 on a volume of 386K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Open Text share prices have moved between a 52-week high of $104.56 and a 52-week low of $36.65 and are now trading 75% above that low price at $64.14 per share. The 200-day and 50-day moving averages have moved 0.68% higher and 0.81% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Open Text on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.72. Since that recommendation, shares of Open Text have risen 20.2%. We continue to monitor OTEX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses open text