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IBD Rating Upgrades: Open Text Shows Improved Price Strength

Open Text (OTEX) saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 70 to 73.




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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

IBD’s proprietary rating measures share price action with a 1 (worst) to 99 (best) score. The score shows how a stock’s price performance over the last 52 weeks holds up against all the other stocks in our database.

Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an 80 or higher RS Rating in the early stages of their moves. See if Open Text can continue to show renewed price strength and clear that threshold.


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Open Text has risen more than 5% past a 50.31 entry in a first-stage flat base, meaning it’s now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.

EPS growth fell in the company’s most recent report from 23% to 0%, but revenue rose from 2% to 8%.

Open Text holds the No. 9 rank among its peers in the Computer Software-Database industry group. Oracle (ORCL) and Commvault Systems (CVLT) are also among the group’s highest-rated stocks.

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