Opendoor: the decline slows, distribution keeps going
Opendoor stock slips 1.7% as distribution persists ahead of earnings
Opendoor: the decline slows, distribution keeps going
Our view last week
Opendoor stock tumbles another 14.8% this week, with sellers now at 92% of the trading volume: after last week's 5.6% drop the selling pressure has gotten even sharper, and buyer dominance has collapsed. The short on the sell signal, active for nine weeks, is now up more than 15%; the price is boxed into a tight band between the 3.87 and 3.91 areas.
This week's summary
Opendoor stock's decline sharply loses pace: after last week's 14.8% drop, this week closes with a more modest 1.7% decline, and sellers slide from 92% to 63% of volume. Money flow tells a different story in our weekly technical analysis, though - CMF pushes even deeper negative, a sign that distribution keeps going. The price stays boxed between the 3.62 and 3.78 areas, with earnings due this very week and the short now up more than 16%.
IQS Phase
79
in tension
Signal Strength
36
decline losing steam
Sizing
REDUCED
Ranking
#28 / 138
US stocks
Trade P&L %
+16.78%
from signal to date, no stop loss
Rank position
ranks 28th among the 138 sell signals for US stocks in our ranking, with a signal strength of 36 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein strong phase
Performanceweekly +1.12% · monthly +3.94%
OPEN belongs to the financials sector (reference ETF XLF). The sector is classified in strong phase according to our weekly reading.
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