ORCL due for a strong dropORCL daily didn't change too much from the last report/analysis. It is still in a rising wedge and prices arrive at the end of the pattern. Even though the market had an extreme bull run the last 2 weeks ORCL didn't move too much. Once the price breaks the lower trend line, it would be a very nice short-sell position with a very big reward-to-risk ratio as major support would be at BigRed which is around 15% from this price.
Volume does confirm a bearish stand of view due to the fact red days are on bigger volume while green on weaker volume.
It is still above all major MA which is bullish.
RSI has strong and powerful bearish or negative divergences which indicate there is a huge chance of an imminent drop.
MACD same like RSI has big bearish divergences indicating ORCL is hardly keeping its price on this level.
Overall: ORCL is in big trouble for bulls. It obviously has great problems with keeping prices at this level. A rising wedge when broken will create massive sales of the price. Negative divergences in RSI and MACD will highly likely influence major drops.
However, this could also be some kind of high base formation but the high from Thursday must be broken on huge volume asap otherwise drop is imminent.
