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02-13-2007, 12:42 PM
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contributing website
 Join Date: Oct 2006
Posts: 307
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Open Text CP (OTEX) NYSE 2/12/2007
From Wall Street Trader's Column
OPEN TEXT CP (OTEX-Nasdaq): Technical Viewpoint: From a low of $18.22 on Jan 9, 2007 prices rallied, reaching a high of $20.13 on Jan 18, 2007. A decline saw prices pull back, reaching a low of $18.59 on Jan 31, 2007. Another rally saw prices penetrate resistance line "A", closing 2/9/07 at $22.80. Technicals: MACD Index (MACD): A Buy Alert! was given on Feb 9, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $20.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Jan 1, 2007. A P&F downside reversal takes place at $21.40. Summary: Technical indicators have turned bullish. BUY! OPEN TEXT CP (OTEX-Nasdaq) @ $23.50 Stop: Use a protective stop of $21.50. OPEN TEXT CP is currently trading @ $22.80 plus $3.26 on Feb 9, 2007. Price Objective: $31.50. Risk/Reward: $2.00 VS. $8.00. Today's Risk Reward Ratio: 4:1 
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