OTEX - (OTEX) Proactive Strategies

2024-03-24 19:12:00 ET

Stock Traders Daily has produced this trading report using a proprietary method.  This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This report optimizes trading in Open Text Corporation (NASDAQ: OTEX) with integrated risk controls.

Warning:

The trading plans were valid at the time this was published, but the support and resistance levels for OTEX change as time passes, and this should be updated in real time.  Access those real time updates for this and 1000 other stocks here. Unlimited Real Time Reports

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Instructions:

Use the basic rules of Technical Analysis.  Here are some examples: if OTEX is testing support the signal is to buy and target resistance.  On the other hand, if resistance is tested, that is a sign to short, and target support.  No matter which side the trade is, long or short, the trigger point is both a place to enter and as a risk control.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data can be used to define Day Trading, Swing Trading, and Long Term Investing plans for OTEX too.  All of these are offered here: Access our Real Time Trading Plans

Longer Term Trading Plans for OTEX

• Buy OTEX slightly over 35.67 target 39.19 stop loss @ 35.57
• Short OTEX slightly under 39.19, target 35.67, stop loss @ 39.3

Swing Trading Plans for OTEX

• Buy OTEX slightly over 39.19, target 39.79, Stop Loss @ 39.08
• Short OTEX slightly near 39.19, target 38.77, Stop Loss @ 39.3.

Day Trading Plans for OTEX

• Buy OTEX slightly over 39.28, target 39.79, Stop Loss @ 39.19
• Short OTEX slightly near 39.28, target 38.77, Stop Loss @ 39.37.

OTEX Technical Summary | Raw Data for the Trading Plans