OTEX stock has fallen from an all time high from 50$ down to 46.50 area. This is a really good discount and analyst estimate a future price of $55-58. For this trade, you can buy a cheap May option for around 3.40$ per contact and has a high chance of bringing more than 50% return in the short.
Technical info:
Stock made a new all time high on 2/8
Stock has fallen about 6.5% from all time high (buy the dip area)
RSI is at 39 which not oversold territory, but I do not think the stock will fall much further.
Technical info:
Stock made a new all time high on 2/8
Stock has fallen about 6.5% from all time high (buy the dip area)
RSI is at 39 which not oversold territory, but I do not think the stock will fall much further.