News Image

Good technical signals and a possible breakout for ORACLE CORP.

By Mill Chart

Last update: Aug 18, 2023

ORACLE CORP (NYSE:ORCL) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:ORCL.

ORCL Daily chart on 2023-08-18

Zooming in on the technicals.

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

We assign a technical rating of 7 out of 10 to ORCL. In the last year, ORCL was one of the better performers, but we do observe some doubts in the very recent evolution.

  • The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
  • When comparing the yearly performance of all stocks, we notice that ORCL is one of the better performing stocks in the market, outperforming 93% of all stocks. We also observe that the gains produced by ORCL over the past year are nicely spread over this period.
  • ORCL is one of the better performing stocks in the Software industry, it outperforms 90% of 287 stocks in the same industry.
  • ORCL is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so ORCL is performing more or less in line with the market.
  • In the last month ORCL has a been trading in the 111.13 - 119.27 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

Check the latest full technical report of ORCL for a complete technical analysis.

Why is NYSE:ORCL a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:ORCL has a 8 as its setup rating:

Besides having an excellent technical rating, ORCL also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 114.80, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:ORCL be traded?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.



NYSE:ORCL (12/8/2023, 7:08:33 PM)

After market: 114.08 +0.47 (+0.41%)


+0.74 (+0.66%)


News Image12 hours ago - CNBCCramer's week ahead: Focus on the Federal Reserve's meeting

CNBC's Jim Cramer told investors what to focus on next week on Wall Street.

News Image16 hours ago - Investor's Business DailyOracle Earnings Watch: AI Push, Cloud Progress In Focus

What's at stake for Oracle stock heading into ORCL's fiscal second quarter earnings report? Cloud and AI push will be in focus.

News Image16 hours ago - Seeking AlphaCatalyst Watch: Intel's AI event, Oracle earnings and CAVA IPO lockup expiration

Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Read more about the events that may impact stock prices next week.

News Image18 hours ago - Investor's Business DailyStock Market Rally Nears 2023 Highs; AMD, Google Jump On AI Push: Weekly Review

Treasury yields and crude oil came off multimonth lows on Friday's jobs report.

News Image20 hours ago - Seeking AlphaOracle Q2 earnings preview: Oracle Cloud Infrastructure in spotlight (NYSE:ORCL)

Cloud and software company Oracle is expected to announce solid second-quarter results driven by its cloud business.

News Image22 hours ago - InvestorPlaceThe AI Market Is Changing. Why Luke Lango Isn’t Focused on Chip Stocks.

Luke Lango thinks that the next phase of AI is quickly approaching. Here's why he's less bullish on chip stocks.

News Imagea day ago - The Motley FoolCould Oracle Stock Help You Become a Millionaire?

The tech giant could still reward its most patient investors.

News Imagea day ago - InvestorPlaceChallenging the Magnificent 7: 3 Stocks on the Rise

The S&P 500 is performing well thanks largely to the Magnificent 7. Here are three companies whose stocks could soon join the exclusive club.

News Imagea day ago - The Motley Fool79% of Warren Buffett's $363 Billion Portfolio Is Invested in Just 6 Stocks

The Oracle of Omaha has put more than $286 billion of his company's invested assets to work in a half-dozen brand-name businesses.

News Image2 days ago - BusinessInsiderAdvanced Micro Devices Projects $45B AI Chip Market In 2023: Analysts Take A Look At Advancing AI Event, MI300X Launch

Advanced Micro Devices, Inc. (NASDAQ: AMD) shares climbed in early trading on Thursday after the company announced the launched of its new GenAI chip.

News Image2 days ago - InvestorPlaceAMD Stock Alert: Big Tech Chooses Advanced Micro Devices Over Nvidia

With Advanced Micro Devices announcing major entities committed to its newest chip, AMD stock jumped on the credibility boost.

News Image2 days ago - InvezzFlare onboards Northstake as a validator & data provider

Flare, the blockchain for data and EVM-compatible smart contracts platform, has onboarded Northstake, a regulated institutional staking provider, as a validator and data provider. Northstake will now help secure the Flare Network by verifying transactions as well as support the blockchain network’s Flare Time Series Oracle (FTSO) as a data provider. Enabling scalable, interoperable dApps […]

ORCL Links
Follow us for more