Hello fellow traders and investors, here's another trade idea. OPEN has recently pulled back tand has made a double bottom and we are now waiting for the breakout of the wedge, if OPEN makes a recovery to the take profit trendline which offers around a 30 to 35% ROI.
Technicals: The Macd indicates that it's oversold The EMA's are in a downtrend The RSI is oversold
When To Buy: When it breaks out of the wedge.
When To Sell: I recommend selling at the take profit trendline which offers around a 30 to 35% ROI.
Fundamentals: Opendoor Technologies, Inc. operates as an online platform for buying, selling and trading-in residential properties. OPEN has a debt/equity of 0.30, sales growth of -80% Q/Q, EPS growth this year of -318%, EPS growth next year of 33%, an ROI of -9.5%, a short float of 3% and I must warn that OPEN is a very volatile stock.
Rating: 25/100 the technicals are decent and the fundamentals aren't great but if it meets your criteria feel free to add it to your watchlist.
I hope you enjoyed this quick analysis and many more to come. If you enjoyed leave a like, follow, comment your thoughts and share this trade idea. Thanks.