Stock:Look for Shares of Open Text to Rebound after 0.55% Sell Off (OTEX)

source:mysmartrend.com
Open Text (NASDAQ:OTEX) traded in a range yesterday that spanned from a low of $39.55 to a high of $40.12.

Yesterday, the shares fell 0.55%, which took the trading range below the 3-day low of $39.62 on volume of 328,000 shares.

Shares of Open Text are currently trading below their 50-day moving average (MA) of $44.38 and below their 200-day MA of $41.84. Look for these MAs to provide resistance for a short-term rebound in the shares.