Short

Oracle: Is a Crash Inevitable?

Updated

Oracle is another stock we're adding to our analysis. Firstly we're particularly looking at the monthly chart to grasp the big picture. We believe that since the start of the entire cycle around the $3 mark at the turn of the millennium, there has been a rise to a maximum level of $127.5, marking the end of our Wave I or the 5-wave cycle. Now, we anticipate being in Wave II, which should retrace between 50% and a maximum of 78.6%, with our target entry at the 50% level, coinciding with the support zone of Wave (4). However, we firmly believe that we won't exceed $127 again unless we encounter an Expanded Flat scenario, where reaching 138% is still possible, but we should not surpass it. Therefore, Oracle presents a very bearish scenario over a long period. We will also look for possible short-term entries to potentially initiate positions.

Note

For Oracle, events have unfolded precisely as we anticipated. Since our analysis nearly a month ago, the stock has surged, peaking at an increase of up to 16%, reaching our target range of 100% to 138%. This progression suggests we might also close the gap that has been significantly opened. Should the price rise further and the movement becomes unmistakably clear, we're considering entering short positions, expecting significant downward potential. If everything proceeds as analyzed and we haven't yet seen the end of Wave (3), surpassing the 138% level would necessitate a reassessment and recalibration of our analysis. Currently, the price seems to respect this level, leading us to anticipate a downward trend for Oracle in the near future. We'll keep a close eye on developments and inform you about potential short opportunities as they arise.

stromm_by_wmc

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