Thursday, January 29, 2009

Open Text reads well

Hitting a new high today on the TSX is Open Text Corp. (TSX:OTC, NASDAQ:OTEX). The move takes out the previous resistance level and should allow the stock to build on existing price momentum. Although OTC is Stock Trends Bullish, OTEX is still in a Weak Bearish category. Today's advance of the NASDAQ-listed stock back to $35 puts OTEX back to the level it was at before stock's precipitous drop in October.
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