White lines - 14 year uptrend Yellow lines - Super uptrend or Parabolic Purple line - Double top conformation/ Short entry
Oracle had an amazing year where the stock gained 40% since January. That uptrend that it has been riding since January has now given way and I think Oracle is headed for its first correction in 2yrs. If I'm right they'll dump it hard at earnings. If you look at the weekly candlestick for Oct25th you'll see the Dark cloud cover that foretold this reversal.
"they'll dump it hard at earnings" - This has to be the absolute worst prediction on the internet. ORCL jumped by like %15. Great analysis on your part, don't quit your day job.
lozack0
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What do u think after the earning
PhiKappaTrader
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@lozack0, i think it will bounce back to the upper trend channel. There is a 48% EPS growth from the beginning of the year, that would be the somewhere above 92 $ for a simple analogy. But from a technical analysis i agree with @ContraryTrader
PhiKappaTrader
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Perhaps it is also only a deviation to the uptrend channel due to the omicron week. We will find out tomorrow with the earnings report if it will recover again into the upward trend or drop like a stone into the old channel. The 40% growth is actually mirrored non technically by the grow in earnings per share.