The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because they are ready to pay a high price for the stock. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

Technically, the security shows a bullish configuration on all time scales. Prices are near to the CAD 58 short term support and should be soon supported by the 100-day moving average. Thus, the stock may bounce towards the CAD 60.4 resistance.

In consequence, investors can take a long position in Open Text with a first target price at CAD 60.4. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be fixed under the CAD 58 short term resistance.