Technician
Short

Oracle Technical Analysis: Bearish Reversal Ahead!

NYSE:ORCL   ORACLE CORP
831 4 12
Technical Analysis: Oracle             Looking bearish on the weekly chart:
-Completed a head and shoulders topping formation
-Broken below 52-week long term average
-One year plus rising trend line was taken
-Breakout accompanied with pick up in volume levels

I am looking for an initial target at major broken resistance at 36.40, should turn to support now. Lets see how things unfold.

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2use
2 years ago
FB TSLA GOOGL GOPRO and BABA down...i guess we are going in for a red week at least
+1 Reply
Technician TOP 2use
2 years ago
Markets feelin bearish..
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2use Technician
2 years ago
Been a while but i am currently checking for how long - each iteration narrows it down, so the chances of a early bull twist are less and less.
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PinnyC PRO
2 years ago
Nice. With StopLoss at $39.25 and assuming we take position on Monday at the previous Close the Risk is $1.15 and Reward at first target ($36.4) is $1.7, Risk/Reward of ~ 1:1.5. Can be a sweet deal if it hits the support at ~$30 (ri/re ~1:7 :-)
Personally I'd like to see the stock close below $38.00 to be convinced it goes south, because the weekly is in upward movement. Spoils the Ri/Re a bit though
Thanks
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