Open Text Corporation (OTEX) - Support & Resistance

Acronyms & Terminologies

The following are the acronyms and terminologies used in this page:

• Pivot - Pivot refers to pivot points which are very popular with professional traders in helping to determine support and resistance levels. Each timeframe pivot is calculated based on the previous price "bar" i.e. the current weekly pivot is based on last week's Open, High, Low & Close prices, and so on. The pivot point calculation used in this site is Pivot Point = (High + Low + Close) / 3.
• R1 & R2 - These are resistance levels which are projected from the corresponding pivot point where prices are expected to pause or reverse. The calculations are R1 = (2*Pivot) - Low and R2 = Pivot + (High - Low)
• S1 & S2 - These are support levels which are projected from the corresponding pivot point where prices are expected to pause or reverse. The calculations are S1 = (2*Pivot) - High and S2 = Pivot - (High - Low)
• 5 SMA/DMA - The 5 day simple moving average. This is used to determine short term trends, highly relevant for daytraders and scalpers.
• 20 SMA/DMA - The 20 day simple moving average. This is used to determine short to medium term trends. This SMA is important in timing entries and exits and for determining a trend reversal or trend continuation, based on the dominant long term trend.
• 50 SMA/DMA - The 50 day simple moving average. This SMA complements the 20 SMA in trading medium term trends.
• 200 SMA/DMA - The 200 day simple moving average. This highly popular indicator indicates the long term trend and is very useful for swing trading.