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Opendoor Technologies Inc

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OPEN trade ideas

OPEN - Possible Cup & Handle Pattern Forming?OPEN ( NASDAQ:OPEN Opendoor) Looks to Print a Possible Cup & Handle Pattern which is Bullish. Should this pattern execute, I have plotted the potential Price Value Area Targets and shown the Upside. Remains a Risky Trade or Investment, however the Macro Factors of a Lower Prime Rate % should support this Strategy. As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions. Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away. Regards Graham.
NASDAQ:OPENLong
by hitchcoxg
OPEN - OPENDOOR - come back of real estate namesAs we gear towards the rate cuts, I think some of the worst impacted companies from high interest environment finally do a turn around and comeback. Barring a recession, a soft landing and signalling data, could make OPENDOOR an interesting play. Price is moving down inside a very clear channel. We took out previous low, sweeping the liquidity and sell side stops. A good NFP and CPI data, can push easily OPEN to 2. And if Fed signals end of the month rate cuts, easily 3-4 in a couple of months before election worries settle in. Ideal entry in FVG shaded area, 1st entry, add to the position when channel is broken to the upside. 2 Buyside are targets, 1st to take partial profit, 2nd to close position. Do not forget trailing stop.
NASDAQ:OPENLong
by S5_Trading_Desk
OPENDOOR bounceThe stock seems to be in a channel that is ascending. The STC Indicator shows that the market is in oversold conditions. A buy signal was detected using harmonics. The momentum appears to still be on the short side, but a bounce may occur to bring the stock back up into the channel. The stock is currently at the fib 50% ratio and may bounce from this support level. If bad news breaks out, OPEN can fall with the rest of the market and breakout from the channel to reach lower lows.
NASDAQ:OPENLong
by targetrocketship
OPENDOOR - CHANCE FOR A BOUNCE The STC Indicator shows signs of this stock being oversold. The graph shows a channel that the stock may have fallen into. The overall trend currently is still on the downside but a harmonic pattern printed as a buy signal. The Fibonacci retracement tool indicates this stock has retraced to the 50th percentile and bounces can occur at such levels. If bad news happens and stocks plummet, generally, we can expect OPENDOOR to follow market trends as well.
NASDAQ:OPENLong
by targetrocketship
RiskMastery's Breakout Stocks - OPEN EditionWelcome to RiskMastery's Breakout Stocks - Stocks with breakout potential. In this edition, we'll be looking at NASDAQ:OPEN ... I believe this code is at a point of potential volatility. If price can hold above $3.56 ... Bullish potential may be unlocked. My key upside targets include: - $4.21 (Conservative) - $5.05 (Medium) - $6.52 (Aggressive) If however price falls below $2.87 ... Bearish risk potential may be unlocked. (My key risk targets - C, M,& A - are as noted on the chart) Enjoy, and I look forward to being of further service into the future. If you'd like to connect, feel free to reach out and comment below. Mr RM | Risk Mastery Disclaimer: This post is intended for educational purposes only - Publicly available RiskMastery information & content is not intended to be financial advice in any shape or form. Please do your own research and seek advice from a licensed professional before acting on any of the information contained within this post. This post is not a solicitation or recommendation to buy, sell or hold any positions in any financial instrument. All demonstrated trades are merely incidental to the educational training RiskMastery aims to provide. You are solely responsible for your own investment and trading decisions, of which should be made only according to your own opinion, knowledge and experience. You should not rely on any of the information contained on this site or contained in any RiskMastery material on any website or platform. You assume the sole risk of any trade or investment you elect to make. RiskMastery and affiliates shall not be liable to you for any monetary losses or any other damages incurred directly or indirectly, from your use, reliance or reference of RiskMastery materials, content and educational information. Thank you for your understanding and cooperation - We look forward to working with you into the future to navigate the fine line of trading and investment success.
NASDAQ:OPENLong
by Bullfinder-official
Open door Technology Inc: unravel the hidden gemOpendoor is one of the most prominent companies, leveraging technology to streamline the home buying and selling process. Opendoor has several growth opportunities that it could pursue to drive future revenue and earnings growth. One such opportunity is to expand its geographic footprint by entering new markets. The company operates in over 40 markets across the United States and plans to expand into additional markets in the coming years. This could help the company increase its revenue base and market share in new regions.
NASDAQ:OPENLong
by DEXWireNews
Potential for Opendoor Technologies Inc. climb to new highsWall Street analysts and options activity have been closely monitoring Opendoor Technologies Inc. (OPEN), the real estate technology company. Here's a summary of recent reports and insights into the company's stock performance and investor sentiment: 1. InvestorsObserver - Wall Street's Perspective: InvestorsObserver provides a comprehensive analysis of Wall Street's outlook on Opendoor Technologies Inc. (OPEN). The report offers insights into analyst ratings, target prices, and consensus estimates for OPEN. It highlights the company's performance relative to its sector and industry peers, giving investors valuable information to consider. 2. Benzinga - Unusual Options Activity: Benzinga discusses unusual options activity observed for Opendoor Technologies Inc. (OPEN) on August 31. Unusual options activity can provide insights into potential market movements and investor sentiment. The report delves into the significance of options trades and how they might impact OPEN's stock price. 3. Yahoo Finance - Opendoor's Presentation at Goldman Sachs Communacopia: Opendoor Technologies Inc. (OPEN) was scheduled to present at the Goldman Sachs Communacopia conference. The report highlights this event and its potential implications for the company's business strategies and investor relations. Presentations at prestigious conferences can provide insights into a company's future plans and growth prospects. These articles provide valuable insights into how Opendoor Technologies Inc. (OPEN) is perceived by Wall Street, including analyst opinions, options trading activity, and recent presentations. Investors interested in OPEN may find these reports useful for making informed decisions about their investments.
NASDAQ:OPENLong
by MoVestmentz
1
Opendoor Technologies entry pursuit As requested by a follower: Opendoor Technlogies NASDAQ:OPEN - Currently this is a high risk trade as we are reaching oversold on the weekly and price is close to overhead resistance Positives and entry levels: - Above 200 day moving average & sloping upwards - A pull back to 200 day would be an ideal entry - Break above the OBV resistance line could indicate further push through I would not be entering this trade unless we revisited the 200 day or broke through the OBV resistance. Opendoor is a small $2.68bln market cap company aiming to make selling your home as easy as clicking a few buttons. There are a lot of unknowns in the housing sector however a new CFO was appointed in Dec 2022 and she seems to have the company back on the front foot which is positive. #opendoor Opendoors mission statement: Opendoor is an e-commerce platform for residential real estate that allows people to buy, sell and move online. Our vision is to build a one-stop shop that allows people to move with the tap of a button.
NASDAQ:OPEN
by PukaCharts
2
OPEN OpenDoor a Penny Real Estate LONGOPEN has earnings upcoming on 8/3. An analysis of the 4H chart with overlays shows bullish momentum in the set of zero lag EMA lines as well as upgoing anchored VWAP landlines. Price crossed over the mean VWAP ( thin black) and the POC line of the volume profile one month ago. The MACD shows bullish momentum since July 24th. The dual RSI indicator shows the low time frame green line rising and then crossing the steady higher black time frame line the past trading day and both being at the 60 level. OPEN is a long trade setup with earnings around the corner. I will take it.
NASDAQ:OPENLong
by AwesomeAvani
$OPEN Macroeconomic Stability Is KeyThe United States may be experiencing a faster-than-expected economic recovery as inflation numbers have cooled faster than the Fed’s expectations. This could explain why Opendoor Technologies Inc. (NASDAQ: OPEN) spiked nearly 10% since the announcement. The reason the stock could maintain its momentum is the decline in US treasury bond yields which are strongly correlated with mortgage rates. In this way, mortgage rates may be set to decline soon which would boost demand for homes. As a result, OPEN stock could be a prime candidate to run in 2024 once the Fed starts cutting rates. OPEN Fundamentals Macroeconomics The housing market is yet to recover from the interest rate hike spree the Fed has been on since the start of 2022, but with the core CPI declining to 4.8%, more than the 5% the Fed was anticipating, it seems like the real estate market is nearing the end of the tunnel. With inflation cooling faster than expected, the Fed may begin holding rate hikes sooner than expected, encouraging more Americans to buy houses and apply for mortgages. This has already begun with mortgage applications increasing by 0.9% in the week ended July 7. Furthermore, the 10-year treasury yield fell to 3.84% which has a strong correlation with mortgage rates since when treasury yield moves mortgage rates follow suit closely after which can help increase mortgage applications moving forward. OPEN Increasing Its Efforts Another factor contributing to the slow recovery of the real estate market is the lack of new housing supply, as there is a strong correlation between new building permits and home sales in the United States, with house sales following dips in building permits in 2020 and early 2023. The lack of new houses may put off existing homeowners from listing their homes for the lack of an alternative. To try and mitigate that, OPEN has expanded its trade-in program and partnered with over 90 homebuilders to help homeowners sell their current homes and buy newly built homes which will increase the supply of houses in the market. Furthermore, OPEN is currently partnered with the top 3 online real estate platforms by visitor traffic in the US which are Redfin (NASDAQ: RDFN), Zillow (NASDAQ: Z), and Realtor.com. These three sites saw more than 607 million visits combined in June which will help OPEN increase its reach exponentially. According to its Q1 2023 earnings call, OPEN also expects to reach profitability this year in Q3, given that its net profit margin in Q1 2023 was -3%, a sequential improvement from the -14% it recorded in Q4 2022, indicating that OPEN is getting closer to profitability. Risks OPEN currently has almost $3 billion in debt, according to its Q1 2023 earnings, and has $1.1 billion in cash, which won’t be enough to tackle the debt. That said, only $355 million of the $3 billion debt will mature in 2023 and 2024. The real problem will start in 2025 when OPEN will have two term debts maturing in April and September valued at $400 million and $500 million respectively. While OPEN can use its current cash to pay off the first debt maturing in 2025, it will not be enough to pay off the $500 million debt maturing in September, which means that OPEN needs to start generating cash to pay it off and other debt maturities in 2026 and 2027. If OPEN fails to generate enough cash throughout 2023 and 2024 to pay its debt, bankruptcy may be a strong possibility. Another risk OPEN may face is if the Fed does not start rate cuts in 2024 which will keep mortgage rates at their current highs – delaying the recovery of the real estate market further. Nevertheless, it might be unlikely for this to happen since inflation is cooling down faster than the Fed’s expectations. OPEN Financials In its Q1 2023 report, OPEN’s assets decreased 23% QoQ from $6.6 billion to $5.1 billion, mainly due to its inventory decreasing by more than 50% QoQ from $4.4 billion to $2.1 billion. Meanwhile, its cash and cash equivalents slightly increased QoQ from $1.137 billion to $1.143 billion. OPEN’s total liabilities decreased by 27% QoQ from $5.5 billion to $4 billion due to a decline in current debt and OPEN buying back $186 million of its 0.25% senior notes, which means that OPEN’s current debt ratio is around 0.78. While it is above the recommended 0.6, OPEN’s debt maturity dates may enable it to navigate its liabilities in case it starts generating cash. Revenue also decreased 40% YoY from $5.1 billion to $3.1 billion, which can be attributed to the low house sales in the US. Operating costs decreased almost 30% from $417 million to $294 million, which contributed to the operating loss increase of 205% YoY from $118 million in operating income to $124 million in operating loss due to the decline in gross margin YoY from 10% to 5%. All of this amounted to a net loss of $101 million – a 460% increase YoY. Technical Analysis OPEN stock’s trend is bullish with the stock trading in an upwards channel. Looking at the indicators, the stock is trading above the 200, 50, and 21 MAs which is a bullish indication. Meanwhile, the RSI is overbought at 80 and the MACD is approaching a bearish crossover. As for the fundamentals, OPEN stock just witnessed a catalyst after core CPI cooled down and increased only 4.8% less than the expected 5%. Future catalysts for OPEN include its Q2 earnings on August 3, which are important to witness whether OPEN returns to profitability or not. Considering that the stock recently broke resistance, investors could wait for a confirmation of breaking the resistance with a retest of $4.58 ahead of the company’s Q2 earnings. OPEN Forecast With inflation declining at a faster rate than the Fed expected, the real estate market could see itself recovering faster, especially since treasury bond yields have declined, which could mean that mortgage rates could follow suit due to the strong correlation between the two. Furthermore, OPEN is increasing its reach by partnering with Realtor.com, Redfin, and Zillow, the top 3 real estate platforms in the US, and is currently expanding its trade-in program to increase supply in the housing market. All of that makes OPEN stock an exciting real estate stock to keep an eye on for a rebound in 2024.
NASDAQ:OPEN
by Penny_Stocks_Today
OPENdoor Healthy Correction DownwardTrend: Looks like the rollercoaster ride has reached a peak and the descent downward should be fast and steep. Indicators: The SSL Hybrid baseline has finally turned red on the four hour chart. This signals either the beginning of more downward action, or a heavy sideway consolidation. The Zigzag Harmonics did not print a buy signal which supports the theory of more downward correction. Thoughts: A Fib retracement was drawn on this four hour chart and looks like OPEN can possibly test the 61.8% or 78.6% which is somewhere around $3.50 to $3.20. If OPEN drops below $2.90 then it is no longer a retracement and may see much lower prices. If OPEN remains strong, and consolidates instead of testing lower fib levels, we should see the price float between the 50% and 38.2% fib levels. If for some reason good news breaks out, or we get a full tech rally, then expect OPEN to launch back up into the recent highs. In any case, this seems to be the beginning of a heavier correction, so trade with caution.
NASDAQ:OPENShort
by targetrocketship