Opendoor Technologies Inc (NASDAQ:OPEN) shares are extending their move higher on Thursday as traders continue to buy into the momentum sparked by the company's upcoming addition to the Russell 3000 Index.

Russell 3000 Inclusion Fuels The Rally

The latest leg up follows Opendoor's confirmation that it has been selected for inclusion in the Russell 3000 Index as part of the 2026 annual reconstitution. The company said the change will become official after the market closes on June 26.

Opendoor explained that joining the Russell 3000 typically places a company into either the Russell 1000 or Russell 2000, along with the matching growth and value style indexes.

The Technical Side

From a trend perspective, Opendoor is back above its short-term baselines, trading 6.6% above the 20-day SMA at $4.84 and 4.9% above the 50-day SMA at $4.92, but it remains 13.4% below the 200-day SMA at $5.96. That mix often reads as "short-term recovery inside a longer-term repair job," especially with the 50-day SMA still below the 200-day SMA after the death cross in March.

Momentum is best framed through RSI, which is neutral at 48.62, suggesting the stock isn't stretched and still has room to trend if buyers keep control. RSI measures how extended a move is versus recent price action, and a mid-range reading typically aligns with range-to-early-trend conditions rather than exhaustion.

The next technical test is whether price can reclaim the intermediate trend area near the 100-day averages, with the stock sitting 0.6% below the 100-day SMA at $5.19. April marked both a swing high and a swing low, so traders often treat that month as a "decision zone," and the current bounce is effectively another attempt to build a higher base after May's break below support.

  • Key Resistance: $5.50 — a nearby round-number area where rebounds can stall before the stock can work back toward longer-term averages
  • Key Support: $4.50 — a nearby level where buyers previously stepped in, and a drop back below it would weaken the current rebound structure

OPEN Shares Are Rising

OPEN Price Action: Opendoor shares were up 9.89% at $5.22 at the time of publication on Thursday, according to Benzinga Pro.

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