Monday, 28 April 2014

OPEN - open air to the low $50s

With the broader market seeing some weakness, - especially in the momo stocks, OpenTable (OPEN) saw further very significant declines, settling -3.3% @ $64.24. Near term outlook offers opportunity of a bounce/back test to the $70 threshold, before $50 later this summer.

OPEN, daily

OPEN, weekly


*I have little interest in trading this one, but it is one I keep an eye on.

Suffice to say...if the broader market can rally into May, then OPEN has a fair chance of a bounce to the $68/70 zone, before a renewed wave lower.

Of course, that will largely be dependent on earnings, but..price action is suggestive OPEN is headed lower this summer.

Earnings are due this Thursday, after the close.