ORCL trade ideas
ORCL Large Cap Tech Setting up Bearish ContinuationORCL may not be joining the technology stock parade. Although it ran up
on the 2H chart with a good 30% rise between earnings. the MACD indicator
showed a double top. On the retracement, the price descended but then
stalled. It came up short of a 40-50% retracement and went sideways
into a flat top triangle. The MACD indicator has been with a negative
red histogram and now a downward-curving set of lines.
I see this as a short trade setup in stock not thriving in the technology
run-up. It could be that investors are simply deploying cash to far better
profit opportunities and not considering this stock as a good move.
Others may be already shorting this. I will join them.
ORACLE Sell unless the Channel's top breaks.Oracle is on a correctional wave inside a larger parabolic trend.
As long as the price is inside the Channel Down (correction wave), sell and target the 1day MA100 at 106.85.
If the price crosses over the Channel Down, buy and target the 1.236 Fibonacci level at 130.50.
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ORCL | Informative NYSE:ORCL
If the price of ORCL breaks above the bullish line of $118, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the target price could be set at $119.84.
Conversely, if the price of ORCL breaks below the bearish line of $114.34, it may suggest a bearish signal, implying potential downward price movement. In this case, the target price could be set at $109.25.
Oracle Rebound & technical analysis According to this chart we are riding the 8 and 20 day. Price bounced off of the 50 after the earnings sell off and broke out from a double bottom.
If this plays out in a perfect world this will blow past 127 from the news run up. Not to mention everything AI is running and we are currently in an AI baby bubble.
I would trade this carefully since it is making new highs and can fall from a sell off and profit taking.
Let’s see how high this goes. Congrats if you were like me and bought around 115 after the earnings sell off.
Trade Responsibly.
#TradeTheWave
Momentum Stock: Oracle CorporationOracle Corporation is renowned for developing and selling database software and technology, cloud engineered systems, and enterprise software products, particularly its own brands of database management systems.
It has been in a nice steady uptrend for most of the year and is up a bit over 55% for the previous 12 month period. Earnings are only a few days away so will be interesting to see what happens.
Mongo , a similar business had a massive 40% gap up its earnings.
Oracle might be a bit expensive at the moment looking at the RSI, MACD and how far away from the SuperTrend it is, but anything could happen with earnings.
A trailing stop loss of around 8% would have kept you in most of this trade which is very low volatility. If it broke below that it could have been a good sign to exit and look for a new entry when the trend resumed.
As always how you interpret and decide to act on any results is up to you. This is just data not financial or trading advice and past performance is in no way any guarantee of future performance. Think of it as a way to spot stocks you might be interested in and can add to your watch list and perform further research on and or discuss with your broker.
Again. Not trading advice . Industries and companies change. Trends can end. Do your own research / discuss it with your advisor, but might be one to watch.
My levels for day-trading Oracle.Summary of ORCL's technical on its daily chart:
The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 106.3455 and 99.8614). Finally, Oracle is trading above its upper Bollinger band (standing at 118.54).
Its Resistances:
141.4 **
137.6 *
133.8 **
130
Its Supports
113.4
111 **
105.1 *
101.5 **
ORCL Oracle Corporation If you haven`t bought ORCL here:
Then analyzing the options chain of ORCL Oracle Corporation prior to the earnings report this week,
I would consider purchasing the 110usd strike price Calls with
an expiration date of 2023-7-21,
for a premium of approximately $4.65.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Trading ORCL's price discovery phase!Oracle enhanced its A.I. capabilities through acquisitions: Datafox (2018), Nor1 (2020), Federos (2021), and Newmetrix (2022).
According to TipRanks, the average price target is $101.07 with a high forecast of $140.00 and a low forecast of $82.50. The average price target represents a -4.55% change from the last price of $105.89.
Based on its seasonality, it tends to be bullish in July.
Oracle has been making consecutive gains Oracle Corporation (symbol ‘ORCL’) share price has been making consecutive gains throughout the first quarter and is still in the aggressive bullish momentum until today. The company is expected to report its earnings for the fiscal quarter on Monday 12th of June. The consensus EPS for the quarter is $1,31 compared to the result for the same quarter last year of $1,31.
‘ Even though some analysts state that the fair value of the share is at $127,50 making the company an attractive addition in terms of possible room for profits, the company showed on their last earnings release report that the total liabilities exceed total assets while it also has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.’ said Antreas Themistokleous at Exness. ‘ In the longer term annual earnings are forecast to grow faster than the American market so investors need to dive deep into the financials of the company to identify any possible opportunities for profit if they proceed with investing in the software giant.’
From the technical analysis perspective the price is currently testing the upper band of the Bollinger bands indicating that there is fueled up volatility in the market for the company share while the 50 day moving average is still trading above the 100 day moving average confirming the bullish momentum is still going strong. The Stochastic oscillator is near the extreme overbought level which in combination with the fact that the price is touching the Bollinger bands could possibly indicate that a correction might be seen in the following sessions.
Apart from that there is no clear indication of a reversal of this bullish rally that pushed the price of the American company to its all time high.
ORCL - Rising Trend Channel [MID TERM]- ORCL is in a rising trend channel in the medium long term.
- ORCL has broken a resistance level in the short term and given a positive signal for the short-term trading range.
- There is no resistance in the price chart and further rise is indicated.
- In case of a negative reaction, the stock has support at approximately 90.
- RSI diverges negatively against the price, which indicates danger of a reaction downwards.
- Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
*Chart Pattern:
DT - Double Top | BEARISH | RED
DB - Double Bottom | BULLISH | GREEN
HNS - Head & Shoulder | BEARISH | RED
REC - Rectangle | BLUE
iHNS - inverse head & Shoulder | BULLISH | GREEN
Verify it first and believe later.
WavePoint ❤️
Oracle Corp - regaular bearish divergenceOn the above 10-day chart price action has appreciated 150% in the last 22 months. A number of reasons now exist to be bearish, including:
1) The breakout of price action from a bearish rising wedge structure.
2) Double bearish engulfing candles. Remember this is a 10-day chart, don’t ignore bearish engulfing candles on this time frame.
3) Regular bearish divergence. Price action prints higher highs as both RSI and MFI (money flow index) prints lower highs. Volume is flowing out. Indeed there is 4 oscillators printing bearish divergence at this time. Look left!
4) The monthly chart (below) prints a hammer candle indicating sellers are numerous at the $90 level.
Exit at $90-100 is excellent but very risky.
Target: $65
WW
Monthly chart:
ORCL - Rising Trend Channel [MIDTERM]- ORCL shows strong development within a rising trend channel in the medium long term.
- It also gave positive signal from the double bottom formation at the break up through the resistance at 79.52.
- Further rise to 96.32 or more is signaled.
- ORCL has broken a resistance level in the short term and given a positive signal for the short-term trading range.
- ORCL has marginally broken up through resistance at 90.
- Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
Verify it first and believe later.
WavePoint ❤️