Momentum Reversal? Oracle’s Heads Up for the First Time in 5 Days

The Hourly View for Oracle

  • At the moment, ORCL’s price is up $0.04 (0.06%) from the hour prior.
  • This is the 2nd hour in a row Oracle has seen its price head up.
  • 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 doji candlestick pattern on Oracle. Given that we see an uptrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Oracle’s hourly price chart is shown below.

ORCL

The Daily View for Oracle

  • Currently, ORCL’s price is up $0.36 (0.54%) from the day prior.
  • Oracle has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Below is a daily price chart of Oracle.

ORCL

Featured Oracle Idea From TradingView

Below is a trading comment entitled ORCL Squeezing you may find interesting:

Keeping an eye on ORCL in the next few days.Price is squeezing inside a falling wedge. I would love to see price breaking above the trendline and 67.50 level.Can possibly long there towards 70

HouseOfTrades