$OPEN – 50 SMA Retest with Trendline Breakout Trigger

Opendoor Technologies (OPEN) is setting up for a trendline breakout right as it tests the 50 SMA — a perfect technical spot for dip buyers to step in after a massive run.

🔹 The Setup:

After a strong multi-month rally, OPEN finally pulled back into the 50 SMA, the first real test of trend support in this cycle.

Price is coiling just under a descending trendline, with an $8.50 trigger marking the breakout zone.

The consolidation is clean, volume is light, and momentum could reload quickly if the market stays hot.

🔹 Market Context:

The broader market is at all-time highs, and OPEN has been one of the biggest winners in that run.

This pullback looks natural and healthy, not distributional.

Often, the first touch of the 50 SMA after a big run is where institutional buyers step back in.

🔹 My Trade Plan:
1️⃣ Entry: Watching for a breakout through $8.50 with volume confirmation.
2️⃣ Add: On strength above that level or retest of the breakout zone.
3️⃣ Stop: Below the 50 SMA — tight, well-defined risk.

Why I Like This Setup:

Trendline break + 50 SMA retest = classic continuation setup.

Big winner resting while the market is strong = ideal timing for a reload.

Risk is clean, structure is tight, and breakout potential is strong.