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Open Text (OTEX) Showing Bearish Technicals With Resistance At $36.27

Mar 08, 2018 ( via COMTEX) --'s patented trade-picking algorithms have identified an attractive covered-call trade on Open Text (<a href="">OTEX</a>). Look at the May 18, 2018 $35 covered call for a net debit in the $33.59 area.<br /> <br /> This trade has a duration of 71 days. The break-even point of this trade is the same as the net debit, which gives this trade 5.35% downside protection. If the stock closes at or above $35 at expiration this trade will return 4.19% or 21.57% (for comparison purposes only). <br /> <br /> OTEX closed Mar 7, 2018's trading session at $35.49. In the past year, the stock has hit a 52-week low of $30.88 and 52-week high of $40.31. Open Text stock has been showing support around $34.59 and resistance in the $36.27 range. Recent technical indicators for the stock are bearish.

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