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.
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.
Check the latest full technical report of ORCL for a complete technical analysis.
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.
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.
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%)
CNBC's Jim Cramer told investors what to focus on next week on Wall Street.
What's at stake for Oracle stock heading into ORCL's fiscal second quarter earnings report? Cloud and AI push will be in focus.
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.
Treasury yields and crude oil came off multimonth lows on Friday's jobs report.
Cloud and software company Oracle is expected to announce solid second-quarter results driven by its cloud business.
Luke Lango thinks that the next phase of AI is quickly approaching. Here's why he's less bullish on chip stocks.
The tech giant could still reward its most patient investors.
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.
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.
Advanced Micro Devices, Inc. (NASDAQ: AMD) shares climbed in early trading on Thursday after the company announced the launched of its new GenAI chip.
With Advanced Micro Devices announcing major entities committed to its newest chip, AMD stock jumped on the credibility boost.
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 […]