Momentum Reversal? Oracle’s Heads Down for the First Time in 3 Days

The Daily View for Oracle

  • Currently, ORCL’s price is up $0.14 (0.2%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Oracle has now gone up 5 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • 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 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 20 day changed directions on ORCL; it is now pointing down. 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.

Oracle’s hourly price chart is shown below.

ORCL

The Daily View for Oracle

  • Currently, ORCL’s price is down $-0.45 (-0.63%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Oracle. Given that we see an uptrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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