ORCL trade ideas
Who likes Oracle right now? "Pick Me! Pick Me!"Ok, my thoughts on ORCL:
MACD bullish cross
ParabolicSAR just fired long
BB are inside KC creating a SQUEEZE on Daily ( 4 hour chart Squeeze has already fired LONG)
Price is above the 21 EMA
50 & 200 EMA are pointing upward
Volume increasing on the upward price movement
XLK Sector has fired long.
Need an Oracle to decide which way!Possible double top, 4th wave triangle or push through
The Fourth Wave Conundrum and Pseudo-certainty in play.
Nothing is for certain in this instrument. It's therefore not an object for investment right now.
Does that mean the analysis is in vain. NO!
It gives us the opportunity , when uncertainty is resolved we will with high probability know what will happen and the we invest.
The options:
Double top and 19'ish as target,
Triangle wave 4 for a while,
A push through and a possible EW target of 55'ish for the 5th wave - Harmonic target is a little higher. If this 3rd option play out we would also see divergens eliminated. But the instrument is now in overbought territory .... so on the edge.
Stay Sharp on Charts at:
The WALLST Scalper
ORCLPrice is just about to break above the longer term descending trend line. Additionally, this stock is also within hedgefunds top 50 shorted stocks in Q2 2016, coupled with a nice reverse head and shoulders I target a run up to 46 if price manages to close above the descending trend line on a daily chart.