ORCL is preparing for the possible bull move
ORCL is currently in a nice bull flag pattern, from which a break could lead to a nice and explosive bullish move. A break above the blue trend line and the blue dotted line would trigger a nice bullish long position with a target of around $95 or more. However, for this to happen, it will require a significant volume.
The recent price action is confirmed by the volume seen in the last two trading days, which is a bullish sign.
Additionally, ORCL has closed the day above all of its major moving averages, which is also bullish.
The RSI has cooled down from extreme levels and has now broken above its falling trend line.
The MACD is ticking in the red, but it seems that the MACD line is starting to turn right above the zero line and is trying to pass over the signal line, which is a sign of bullish preparation. If the price crosses over the signal line, it would be a strong bullish indication.
Overall: most of the indicators on this chart are showing strength in the price of ORCL, indicating that it would like to move up, no matter where SPY or any other index is going. Breaking above those two blue trend lines would trigger a long position. However, if it falls below the lower trend line, it would remove the possibility of that pattern, and we should wait for a new edge to form, which could bring the market to us.
BUY SIGNAL only when the blue dotted line is broken with the volume!
The recent price action is confirmed by the volume seen in the last two trading days, which is a bullish sign.
Additionally, ORCL has closed the day above all of its major moving averages, which is also bullish.
The RSI has cooled down from extreme levels and has now broken above its falling trend line.
The MACD is ticking in the red, but it seems that the MACD line is starting to turn right above the zero line and is trying to pass over the signal line, which is a sign of bullish preparation. If the price crosses over the signal line, it would be a strong bullish indication.
Overall: most of the indicators on this chart are showing strength in the price of ORCL, indicating that it would like to move up, no matter where SPY or any other index is going. Breaking above those two blue trend lines would trigger a long position. However, if it falls below the lower trend line, it would remove the possibility of that pattern, and we should wait for a new edge to form, which could bring the market to us.
BUY SIGNAL only when the blue dotted line is broken with the volume!
Consistency is the key of success....