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OPENDOOR TECHNOLOGIES INCOPENDOOR TECHNOLOGIES INCOPENDOOR TECHNOLOGIES INC

OPENDOOR TECHNOLOGIES INC

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OPEN Too Much Too FastTrend: Open is definitely on a uptrend, but the problem is the speed of this uptrend. Indicators: SSL Hybrid's baseline is solid green which is indicating bullish momentum. A buy signal was printed a day ago or so at 2.90. UT bot also signalled a buy at 3.30 and the price shot up to 4.20. At the peak, the Harmonics indicator printed 2 sell patterns. Thoughts: OPENdoor is up 78.2 percent within the last month. For every up, there is a down. The faster the upward movement, the harder the downward movement hurts. Please trade with caution at these levels.
NASDAQ:OPENShort
by targetrocketship
OPEN breaks out. Can it continue?OPEN a disruptive company in the residential real estate sector as shown on the 1H chart has continued out of a pullback. Is the continuation sustainable? I believe that inflation has become imbedded into the economy. Banks have survived the crisis with federal support and action. The Z score and relative trend index are impressive with the present indications. In an abundance of caution, the mass index is approaching the reversal zone above and could be somewhat predictive of a potential reversal. Moreover, the anchored VWAP lines with an origination ten trading days back shows price at three standard deviations above the mean VWAP. Overall, I believe that I should not enter a long uptrend this far into its extension when there are signs based on technical indicators. Instead, I will watch for another pullback or actual retracement.
NASDAQ:OPEN
by AwesomeAvani
OPENDOOR DOUBLE BOTTOMTrend: Opendoor is down 10% and appears to be at a local double bottom. Indicators: The SSL Hybrid baseline is red but the momentum downward has fizzled out. A buy signal occurred on the Hybrid indicator. A fib retracement back to $3.00 means Opendoor will be back at the 38% level. Thoughts: There is strong support at this price point from previous price movements. I am seeing a possible double bottom even though the harmonics indicator did not print one. My previous post was suggesting a short play, which did occur this morning. I believe there is an entry point currently for a long play.
NASDAQ:OPENLong
by targetrocketship
OPENDOOR PULLBACK POSSIBILITYTrend: Opendoor's price movement has been consolidating near recent highs. There appears to be some exhaustion in the upward trend. Indicators: Three bearish harmonic patterns were printed on the chart by the ZigZag Harmonics indicator. The SSL Hybrid indicator's baseline turned red and is signalling downard momentum. It also printed a sell signal. Thoughts: With four signals indicating sell on the 15 minute chart, we should be seeing a dip in the stocks price action in the near term. The one, two, and three hour charts show a change in trend, from bullish to neutral. The four hour chart does not show a change in trend. As we examine this 15 minute chart, a Fibonacci retracement has been drawn. If the price dips below the Fibonacci gray zone, it would not longer be a dip and would more likely be a reversal. It appears more consolidation still needs to take place before we see more volatile price movements.
NASDAQ:OPENShort
by targetrocketship
OPENDOOR OVERSOLD AND READY TO SHOOT UPTrend: Consolidation occurred today, in which, the stock dipped in the morning and evened out at the end of the day. This kind of behavior signals bearish momentum that was faded out by stronger bullish momentum. Indicators: An SSL Hybrid signal came through today at 17:30 on the chart as an upward arrow. It was a long candle that ranged from 3.01 to 3.12. The STC indicator did not signal a buy today but did inform us we are deep into the oversold zone on this one hour chart. The MA baseline also turned gray which is great because it might turn green tommorow indicating a buy signal. The harmonics indicator did not print any signals on the one hour chart, so it is likely that there still isn't any major movements at the moment. Thoughts: Bull run breakouts usually occur after heavy consolidation. The price action of this stock has been consolidating at good levels and is a sign of strong support. The recently observed weakness in breakouts from the upper channel leads me to believe there is still not enough demand to make this stock run at the moment. The great news is that the price movement dipped quite low on the channel which was a retest of support. After testing support, we ended the day with price recovery back to morning price levels. This failure in bearish momentum today may mean that the bulls are more in control than the bears. I am bullish biased because I love the underlying stock's mission to simplify the real estate market process. With all the information provided on the chart, there appears to be a higher probability of upside in the near future.
NASDAQ:OPENLong
by targetrocketship
OPENDOOR FALSE BREAKOUT "FAKEOUT"Trend: A fakeout occurred today causing more consolidation in price movement. As stated previously, the chart indicates that a bullflag has formed. The price moved outside of the channels created by the flag but it was not able to hold above the channel. The weakness demonstrated brought the price action back into the channel and that is why this is a false breakout. A real breakout will break through the channel and hold above it, to use that line as support. Indicators: The SSL Hybrid indicator's baseline has turned from green to gray which signals indecisiveness in the market. A sell signal was also issued on the SSL Hybrid indicator, but the other indicators did not issue a sell signal. A Gartley pattern and a Butterfly pattern appeared on the 15 minute chart with an SSL Hybrid buy signal at roughly $3.02 to $3.07. The UT bot did not print any useful signals this time around. Thoughts: This fakeout has caused the price to sit quite high within the channel. The price rose above the channels and dropped below it, causing the upper boundary of the channel to be resistance in the future. The indicators show weakness in the uptrend and this may lead to more consolidation within the channel before a real breakout occurs. The good news is that target rocketship did hit $3.25 as previously suggested. I look forward to hitting $3.25 again in the near future. 😄
NASDAQ:OPENLong
by targetrocketship
OPENDOOR ASCENDING TRIANGLE & BULLFLAGTrend: The pennant chart pattern which formed yesterday was broken today. Unfortunately, there wasn't enough demand to drive the price up any further. A new pattern has emerged on this one hour chart, and that is the ascending wedge charted as bright yellow lines that form a triangular shape. Once the ascending wedge was drawn, I was able to see a bullflag pattern. Bullflag patterns are similar to pennants and both signal trend continuation. Indicators: The SSL indicator is still showing a red line so the price action is still more bearish then bullish. The STC indicator is already deep into over bought zones and signals more consolidation. The Didi indicator signalled a buy recently at around 2.93 to 3.0. The Didi and SSL hybrid both gave a signal to buy roughly the same time, so 2.93 to 3.0 should be a good price point currently. Thoughts: Monday is a non trading day so there should be some pent up demand to buy when markets open Tuesday. The price formed a bull flag, so hold on for a bit longer until consolidation breaks hopefully to the upside.
NASDAQ:OPENLong
by targetrocketship
OPENDOOR PENNANTS CHART PATTERN FORMINGTrend: Bullish pennants are usually a chart pattern that signals breakouts to the upside in a bullish market. The price action typically trades sideways inside the channel until it breaks out of the channel. As the pattern is forming on the one hour chart, we can expect to see some sideways trading until the breakout. Indicators: The price touched the 50% level on the fib level chart and bounced back to the 38% level showing strong support at the moment. The SSL Hybrid indicator shows a red line and red candles indicating momentum still being bearish. The STC indicator shows that the momentum is bullish but is nearing overbought zones. The Didi indicator supports the idea of the bearish momentum coming to an end and reversing into bullish momentum, Thoughts: The bullish pennant pattern will be fully formed soon, and if markets are positive, we should see another breakout!
NASDAQ:OPENLong
by targetrocketship
OPENDOOR - Breakout ConfirmedTrend: Price action has broken out of the channel created which indicates possible continuation of the current uptrend. Indicators: The STC indicator is green and heading toward overbought territory. The STC line can remain in overbought territory when bull markets occur. The Zigzag indicator doesn't recognize the recent high as the peak of the zigzag, so there is a possibility for more upside. The SSL hybrid indicator shows a shift from a solid set of red candles into a set of blue candles which reflects the short term trend. Thoughts: The chart showed a classic technical analysis pattern of resistance becoming support. The price action was moving in the channel shown on the chart, and the line that marks the top of the channel was the resistance line. The price broke through today and is holding above that line.
NASDAQ:OPENLong
by targetrocketship
OPENDOOR BULLS ARE BACK!!OPENdoor stock has recently been doing alot of consolidation. In this current chart, the STC indicator has shown that there is a buy opportunity as it has changed from red to green. The green line has also crossed the bottom 25% line on the STC indicator. When a green line crosses that area, there is usually price action toward the upside. The SSL hybrid indicator has also shown that the candles has changed from red to gray and is now blue. This is a strong indicator of possible trend reversals. With the channel formed from the recent tops and bottoms, OPEN is sitting exactly in the middle. This can mean that OPEN has an even chance of dropping lower in the channel or rising higher in the channel. The SSL Hybrid indicator also shows that OPEN is sitting above the MA baseline which is bullish momentum. The zigzag indicator for this 4H chart indicates that we may still be heading toward the upside because the zigzag indicator did not recognize the recent high as a high point on the zigzag. By combining the signals from the STC indicator, ZigZag, and SSL hybrid indicator, there are more signs of rising price action then falling price action. Price movement can be unpredictable and can always make moves like bull traps, and bear traps. The 4H chart helps see the general trend over a longer time frame so you can better understand the market.
NASDAQ:OPENLong
by targetrocketship
OPEN broke out of rising wedge & may test supportOPENDOOR Recently this stock tested resistance and got rejected toward the downside. The downside rejection has caused the price to move outside of the rising wedge. The price may fall rapidly to test support levels which were previous highs on the chart. Usually a breakout causes rapid change in price movement to either the upside or downside. In this case, the breakout to the downside may be further extended until the price reaches a strong level of support. The 3 hour chart of OPEN with the echo indicator predicts a possible outcome which I agree with. The echo indicator predicts future price movements with dotted lines on the chart.
NASDAQ:OPENShort
by targetrocketship
LONG OPENDOOR POSSIBLE BREAKOUT ON ECHO INDICATORThe echo indicator predicts possible price movement indicated by a line of dots on the graph. OPEN appears to be in a rising wedge but also in a ascending triangle. This one hour chart predicts a breakout in OPEN. The 4H chart of open shows that the stock may only move up a little before dipping to major support levels at 2.20. The echo indicator has provided two different outcomes and the graph here shows the more bullish version, or possibility. The current trend is upward, which leads me to believe that we should be testing the upper resistance levels instead of the lower support levels.
NASDAQ:OPENLong
by targetrocketship
OPENDOOR UPWARD CHANNEL FORMEDOPEN This stock has been in a downward trend for a long time, but it seems like a trend reversal may have appeared. The Williams %R indicator shows that the stock is currently trading at oversold values. This is a good sign for those who are trying to enter the trade as the fib retracement levels are already around 50%. I have marked a channel formation in the current graph to show the general trend in the 4H chart. There is also horizontal lines to show the previous highs. This stock may also be in an ascending wedge which can be a future indicator of the price breaking out and dropping into a lower level for support. As long as the price movements stay within the channel formed, we should be seeing some movement toward the upside.
NASDAQ:OPENLong
by targetrocketship
3
Opendoor - powerful bullish ButterflyLooks like Opendoor's stock is shaping up to form a Butterfly pattern! If you're familiar with this symmetrical chart pattern, you'll know that it can signal a potential reversal in the stock's current trend. So, for those of you who believe in the power of technical analysis, this could be seen as a bullish signal for Opendoor's future stock price. Of course, as with any trading strategy, it's important to use multiple forms of analysis and not rely solely on chart patterns. But hey, let's enjoy this moment of Butterfly bliss while it lasts!
NASDAQ:OPENLong
by patryk2808