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Is OpenTable A Broken Table?

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June 22, 2011 – Comments (1)

OpenTable Inc.(NYSE:OPEN) provides electronic reservation book (ERB), an integrated software and hardware solution that computerizes restaurant host-stand operations. This helps restaurants with reservations, seating arrangements, guest recognition, and email marketing. OpenTable Inc. has been a leading stock until late April 2011 when the stock traded as high as $118.66 a share. Since that high print, the stock has plummeted lower by 35.0 percent. The stock is now trading below its daily chart 50, and 200 simple moving averages. This puts the stock in a weak technical position on the charts. This is certainly a major decline in such a short period of time on the daily chart. The next major support level on the daily chart looks to be around the $71.00, and $68.00 levels.The stock is very oversold at this time, however, traders must continue to be cautious on this stock until it can recapture and close above the 200 moving average.

This morning, OPEN stock is trading slightly higher by 0.84 cents to $77.63 a share. The stock will have intra-day support around the $76.25 and $75.70 levels. Should the stock rally higher intra-day, traders should watch for intra-day resistance around the $79.00 level.


Nicholas Santiago
InTheMoneyStocks.com

1 Comments – Post Your Own

#1) On June 22, 2011 at 11:47 AM, L0RDZ (78.34) wrote:

Its probably over priced and the new car stock smell has dispated...

 

 

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