Opendoor Technologies Inc (NASDAQ:OPEN) shares are trading higher on Tuesday as traders assess improving housing demand signals. Here’s what investors need to know.
- Opendoor Technologies shares are consolidating. Where is OPEN stock headed?
Opendoor Stock Momentum: Short Interest, Housing Demand Signals
Opendoor is trending after a surge in trading activity, with short interest elevated at 14.4% and peers also catching a bid, including Offerpad Solutions and Zillow Group.
Recent housing data has kept Opendoor on investors’ radars after the National Association of Realtors said pending home sales rose 1.5% month-over-month in March, pointing to pent-up demand despite higher mortgage rates.
The $82 Price Target: Eric Jackson's Bull Case For The Kaz Nejatian Era
Meanwhile, Eric Jackson, founder of EMJ Capital, recently said he is maintaining an $82 price target on Opendoor. His conviction rests on the idea that housing demand has merely been deferred rather than destroyed by current 6.33% mortgage rates. He argues that the market is coiled like a spring, ready to release a massive wave of volume once rates eventually decline.
Central to this thesis is a fundamental reset of the company's operating model under the leadership of new CEO Kaz Nejatian. Jackson contends that the stock is currently mispriced because the market hasn’t yet accounted for the internal corporate rebuild.
While he acknowledges that the path ahead remains volatile, he justifies the investment by noting that turnarounds are naturally messy and, consequently, undervalued. This “messy but cheap” narrative is specifically gaining traction among momentum traders looking for a high-stakes recovery play.
Opendoor Stock: Key Technical Levels To Watch
Opendoor is sitting near the middle of its 52-week range (51 cents to $10.87), which fits a stock that's rebounded hard but is still working through overhead supply. The stock is trading 12.1% above its 20-day simple moving average (SMA) and 1.7% below its 100-day SMA, a mix that points to short-term strength while the intermediate trend is still being repaired.
The moving average convergence divergence (MACD), a trend/momentum measure, is above its signal line and the histogram is positive, which leans toward improving upside momentum. That said, the death cross that occurred in March (50-day SMA below the 200-day SMA) is a reminder that the longer-term trend only recently turned bearish and can take time to fully reset.
Over the past 12 months, the stock is up 627.21%, which shows how quickly sentiment can flip when positioning gets crowded. With a recent swing high and swing low both set in April, traders are watching whether the stock can build a higher base rather than snap back into a wide trading range.
- Key Resistance: $5.50 — a level where rallies have recently stalled.
- Key Support: $5.00 — a round-number area that often draws dip-buying interest.
Opendoor Earnings Preview: What Analysts Expect
The countdown is on: Opendoor Technologies is set to report earnings on May 7.
- EPS Estimate: Loss of 6 cents (Up from Loss of 9 cents YoY)
- Revenue Estimate: $667.54 million (Down from $1.15 billion YoY)
Opendoor Stock Price Movement On Tuesday
OPEN Stock Price Activity: Opendoor Technologies shares were up 2.60% at $5.52 at the time of publication on Tuesday, according to Benzinga Pro data.
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