Australian (ASX) Stock Market Forum

OPEN - Opendoor Technologies Inc (NASDAQ)

18 November 2021
Hello you amazing and wonderful people, i do hope you have had a pleasant start to the week and are doing well.

I am very interested in the stock Opendoor Technologies Inc, ticker OPEN on the NASDAQ. It is an online platform that engages in the trading of residential real estate. The company purchases to renovate, rebuild, and resells homes to and from customers. The stock sadly has been hit hard by the bear market and this stock appears to be in a downtrend. I want to build a small position in this stock as i believe reviewing its fundamentals this company could have growth in the future. I please wondered what would be an ideal time to make a position please using technical analysis, should i wait to see if this continues in a uptrend? Further how far do you believe this may fall before it hits a bottom and starts to rebound please?

Thank you so much for any advice or help you can give it would mean the world to me. Thank you so much and take very good care.
Hello you wonderful people, i do hope you are doing well. Sorry to follow-up, but if anyone kindly had any thoughts on the above post, even if its just a few sentences i would be very thankful. I appreciate your time and all the very best to you.
@robertbanking Well hello there. Trading and investing is a business activity that works best when you act on your own opinion. In this way you soon learn whether your opinion is worth anything as a basis for trading or investing. I could give you mine on OPEN, but it's worthless. OPEN could go up, down or trade sideways like it has for a while.

I look at the price charts to form my trading decisions. Others, like to evaluate the company fundamentals. How you form your own opinion is up to you. Look at the attributes that appeal to you.

OPEN has gone from $25 to $5, that's not good. Are there any fundamental reasons for that or is it only due to the market wide selloff in tech companies. Has this tech selloff been justified for OPEN? Is it now at an attractive (to you) valuation?

I look at the chart and noticed that the market has bounced off the last low. OPEN hasn't. Therefore it's not in demand at the moment. Might this change soon? No one knows. I'd rather be buying stocks that are in demand. These are the ones going up now.