Is Momentum Changing for Oracle? Price Just Crossed Above Its 20 Day Moving Average

The Hourly View for Oracle

  • Currently, ORCL’s price is down $-0.02 (-0.02%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Oracle has now gone down 4 of the past 5 hours.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Oracle. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Oracle’s hourly price chart is shown below.

ORCL

The Daily View for Oracle

  • Currently, ORCL’s price is down $-0.67 (-0.7%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, so that price is now turning below it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Oracle.

ORCL

Latest News Discussing ORCL