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Software companies have lagged this year as investors focus on cyclicals like energy and financials. But one unexpected name is breaking out: Oracle. As covered previously, strong earnings lifted ORCL to new highs in December. It then pulled back to old resistance and bounced. This week, its shares are closing above their previous all-time highs. Two technical...
Oracle, which is not a internet company, but IT company with more traditional focus, seems to be very strong the last 1-2 month and not be affected by the weakness of the internet stocks. Oracle is also profitable and may attract now more investors, so going long is a good idea in my eyes with this stock.
Oracle has been one of the quieter names in tech recently, but the chart is showing signs of a potential rally. The software giant hit new highs in December following a strong quarterly report. Importantly, its newer cloud business surprised to the upside. ORCL then pulled back and has retraced the entire move. Friday and Monday, it held the same $60 level...
ORCL fell from a steep rising wedge and looks to be recovering. Rising wedges are usually bearish and interrupts supply and demand. Possible AB=CD pattern but D is not here yet so I call this ABC bullish.. If you think you have an AB=CD pattern, use the magnet and move leg AB to over C. AB=CD is a reversal pattern that helps you identify when the price is about...
broke its downtrend resistance and looks like we started an uptrend here, long 63 stop loss 61.5 and price target 65.5! :)
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Needs to test level for a 3 times. And maybe it drawing cup and handle pattern.
Oracle is back at support and previous high from years ago, perfect moment for the next leg to go up.
ORCL 1/12/21 1D Time Frame Scenario 1: Stochastics is currently at over sold levels ready to move up however MACD shows bearish signal with histogram confirming more bearish momentum. Price could go lower around 50ema area and (1)bounce back to a bullish move, (2) consolidate side ways then move up. Keep a tight stop loss just below the 50ema incase support...
ORCL is in a clear uptrend. MACD H made a new high, so we can expect the next move to reach or expand the old high of 66$. MACD H < 0 and ticks up. Price 63,47$ Target 68$ Stop 61,78$ R:R 2,68:1
Oracle is in a faultless trend since 2009. There are no bearish signs in long term. In a short-mid term I have found a goal to be achieved in a middle term: 72.59$