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Oracle (Extended hours)

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ORCL trade ideas

Stunner: Oracle Breaks Out as Peers LanguishSoftware 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 patterns stand out today. First, notice how ORCL broke above $64 on February 22. The stock barely pulled back in subsequent sessions, even as the broader S&P 500 dove to a three-week low. Second is ORCL’s relative strength compared to the broader technology sector. Both of these trends are signs of accumulation. One positive catalyst is ORCL’s improving momentum in cloud-computing, which prompted analysts to raise price targets after last quarter. Now buyers are re-engaging with another set of numbers about two weeks away. The company’s lower valuations may also provide some shelter against higher interest rates. ORCL trades for just 14 times forward earnings and 5 times revenue. Other big names like Salesforce.com and Adobe (which have gone half a year without hitting new highs) trade for at least 3 times more. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:ORCLLong
by TradeStation
ABC BullishORCL 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 to change direction. The pattern consists of three legs, with two equal legs labelled AB and CD, together they form a zig-zag shape. The retracement (from B to C) can be between 38.2% to 78.6% of the A-B leg, however, an ideal pattern has a retracement of 61.8% to 78.6%. ORCL retraced to the 0.618 on the BC leg which is where you can begin to figure out which harmonic pattern you may have. There is another pattern this could end up being so I say "possibly" AB=CD (o: Possible stop below C, which is the thing I really like about this pattern. If it does not blast off, you did not lose a whole lot if you have your stop a bit under c, avoiding poossiblly getting stopped out by retests of C. Targets calculated by subtracting A from B and applying fib levels. ORCL is in a long term uptrend.. Not a recommendation..
NYSE:ORCLLong
by lauralea
Oracle Pulls Back After Breaking OutOracle 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 where it initially broke out on December 11. That price line could be especially important because the previous breakout attempt in September and October failed around the same area. Has old resistance become new support? The bounce is also occurring at the 50- and 100-day simple moving averages (SMAs). Stochastics additionally are showing an oversold condition. Flipping to the weekly chart, we see ORCL’s now trying to form a bullish inside candle. That could be a potential sign of stabilization after five straight downside weeks. Finally, ORCL trades at much lower multiples (price/earnings, price/sales) than peers like Microsoft (MSFT) and Adobe (ADBE). If its recent Cloud gains continue, investors may be willing to pay higher valuations. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:ORCLLong
by TradeStation