Oracle introduces new AI breakthrough for corporate software devThis week, Oracle Inc. introduced an important artificial intelligence (AI) innovation aimed at the most popular AI field: corporate software development. Oracle expects this product to drive profitable sales, distinguishing it from most mass-market AI services.
The introduction of the new solution, Oracle APEX AI Assistant, is set to revolutionise the way enterprise programs are created. This innovative tool eliminates the need for extensive source code, significantly reducing development time and costs. In fact, APEX AI Assistant allows enterprise applications to be deployed 20 times faster and to write 100 times less code than traditional tools.
Given these developments, let's examine the Oracle Inc. (NYSE: ORCL) shares from a technical analysis perspective for potential trading opportunities.
On the Daily (D1) timeframe, resistance at 140.95 USD was broken through, and support has formed at 137.40 USD. Quotes have left the broad sideways channel, in which they have been trading since June 2023. In the event of a downward trend, the target for the fall may be set at the level of 122.50 USD.
If the upward trend continues, the short-term target could be set at 155.00 USD upon a rebound from the resistance at 140.95 USD. In the medium term, the price may rise to 168.00 USD.
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