Oracle - 30d expiry - We look to Sell a break of 112.98 (stop at 118.98)
Daily signals for sentiment are at overbought extremes.
Trades with a bearish descending triangle formation.
113.43 has been pivotal.
A break of the recent low at 113.43 should result in a further move lower.
The bias is to break to the downside.
Our profit targets will be 98.98 and...
ORCL may not be joining the technology stock parade. Although it ran up
on the 2H chart with a good 30% rise between earnings. the MACD indicator
showed a double top. On the retracement, the price descended but then
stalled. It came up short of a 40-50% retracement and went sideways
into a flat top triangle. The MACD indicator has been with a negative
red...
Oracle - Expires 17/4 (30d) - We look to Sell a break of 81.98 (stop at 85.22)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Broken out of the channel formation to the downside.
Previous support at 86.00 now becomes resistance.
A break of the recent low at 82.04 should result in a further move lower....
Oracle
Intraday - We look to Sell a break of 68.29 (stop at 71.31)
The primary trend remains bearish. A sequence of daily lower lows and highs has been posted. We can see no technical reason for a change of trend. We expect an initial move higher to fail and look to set shorts on a break back through 68.50.
Our profit targets will be 60.09 and 58.00...
Oracle shares rise on better-than-expected earnings report - CNBC
My thought process on this idea is the following:
1) 10yr yield @ 3.33
2) Strong dollar
3) Fed potentially raising .75 basis points, according to J.P. Morgan.
Risk/Reward and environment is to the downside. If NASDAQ catches a bid and dollar/yields cool off, this may be a nice long. As of right...
