ORACLE, Moving In Possible Flag-Formation, Important Levels!Hello Traders Investors And Community,
Welcome to this analysis about the stock value ORACLE 4-hour timeframe perspective, the recent event, the current formational structure, what to expect the next times, and how to handle upcoming situations in an appropriate manner. The stock market these times sending highly mixed signals within the individual stocks where some forming more bullish formations others looking for the downside, these are still consequences of the corona crisis and damages in the economy as those mechanisms also seen in past historical financial crashes were there came big sorting outs of innovative stocks and others which didn't manage to come up with, comparing with the current situation we can note that everything involved with digitalization has more chances to succeed sustainable so also ORACLE which recovered from the corona breakdowns and now forming a smaller when not bigger correction where I found important
signals how this stock can destine.
When looking at my chart you can watch there that the stock is moving in a larger channel which is actually a possible bull-flag formation marked with black upper and lower boundaries, where the stock currently approaches the upper boundary which already confirmed bearish to the downside and now doing this a second time where it is still holding above the 55-EMA marked in green where it is consolidating above to form a leg down moving into the last wave-count that will form the final and decisive wave E of the overall big wave-count the stock is forming here, this last wave can be protracted till there is support reversing the situation and bouncing which will be the level marked in my chart in blue where the stock has not only the 1000-EMA but also the lower boundary and support from past price action as supports, these levels forming altogether a coherent support cluster coming up with a high possibility to bounce in this area as it is marked.
When the stock shows up with the more likely scenario where it bounces in the suggested back-up-zone marked in my chart to do not fall below this level again the stock has some decent and solid potential to move higher and form the bull-flag breakout which will confirm the formation and activate higher targets in the range, although it is possible to trade this anticipated upcoming mechanism aggressively with an entry in the channel the best and smartest way will be to wait on the proper confirmation above the upper boundary with a possible pull-back to enter in the market. The next times will show how this scenario plays out and if the stock manages to form the suggestions as mentioned, remember that it is highly important to bounce in the area marked in my chart, when this does not happen and the stock falls below this can cause bearish pressure which will increase together with a corona increase.
In this manner, thank you for watching, support for more market insight, all the best!
Information provided is only educational and should not be used to take action in the market.
