Oracle Corporation (NYSE:ORCL) gained 0.02% in yesterday’s session, going up from its prior closing price of $48.90 to $48.91, and has now recorded rally in 3 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The stock price went upward in 6 of the last 10 days and has generated 1.96% during the last two weeks. Trading activity decreased by -1.67 million shares, and in total, 13.40 M shares exchanged hands for about $655.28 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.
Inside ORCL’s Recent Trend
Oracle Corporation (ORCL) lies in the middle of a wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -2.35% over the course of a quarter and, with 90% chance the price will be floating in the range of $46.22 and $51.32 in this timeframe.
Oracle Corporation Technical Signals
ORCL is a buy based on short-term MA; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On additional rally, the share price will meet long term resistance at around $49.53. On a drop, the stock is likely to find some support over the short run, which begins at $48.56. A buy signal will be generated if it crosses above the long term moving average. Meanwhile, a price down versus the short-term MA will be a fresh sales call.
Oracle Corporation (NYSE:ORCL) Support And Resistance Levels
Oracle Corporation (ORCL) recorded volume accumulation so there will probably be a surplus of buyers at $48.74. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $50.45, $52.49 and $52.86.
Accumulated volume is going to prevent the price from rising further at $50.45 and this action will lead the price to take a temporary pause or stay muted for a few days.
Oracle Corporation (ORCL) Risk Assessment
A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.53 between high and low, or 1.09%. The average volatility for the past week stood at 1.07%.