Ok, my thoughts on ORCL:
MACD bullish cross
ParabolicSAR just fired long
BB are inside KC creating a SQUEEZE on Daily ( 4 hour chart Squeeze has already fired LONG)
Price is above the 21 EMA
50 & 200 EMA are pointing upward
Volume increasing on the upward price movement
XLK Sector has fired long.
Possible double top, 4th wave triangle or push through
The Fourth Wave Conundrum and Pseudo-certainty in play.
Nothing is for certain in this instrument. It's therefore not an object for investment right now.
Does that mean the analysis is in vain. NO!
It gives us the opportunity , when uncertainty is resolved we will with high probability know what will happen...
Well, it looks real... Oracle is already traded the highs, technical the stock is distributing. So It is question of whether we upthrust or we go straight through the Ice. Not one I want to bet on...
Price is just about to break above the longer term descending trend line. Additionally, this stock is also within hedgefunds top 50 shorted stocks in Q2 2016, coupled with a nice reverse head and shoulders I target a run up to 46 if price manages to close above the descending trend line on a daily chart.
Stochastic created two divergences simultaneously.
There is a ~75% chance of price following the stochastic this time.
If it does, expect the price to trade in the box given.
So be bullish on Oracle.
This is more of a "Concept". I am a complete newbie, just looking to validate the concepts of these patterns. Please feel free to comment and critique. I would appreciate the feedback.
