Oracle Corp (ORCL) 3 Day Up Streak Broken; Breaks Below 20 Day Average

The Hourly View for ORCL

Last Updated January 29, 2021, 12:39 GMT

At the time of this writing, ORCL’s price is up $0.38 (0.61%) from the hour prior. This is the 3rd consecutive hour ORCL has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Oracle Corp Daily Price Recap

Oracle Corp is down 2.13% ($1.33) since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. The change in price came along side change in volume that was down 24.5% from previous day, but up 25.44% from the Thursday of last week. Here is a daily price chart of Oracle Corp.

ORCL

Oracle Corp Technical Analysis

Notably, Oracle Corp crossed below its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For another vantage point, consider that Oracle Corp’s price has gone down 16 of the previous 30 trading days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 30 and 90 day charts, may be slowing down and ready to reverse.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to ORCL:

    $ORCL $FDX $DIS everyone get out of robinhood. Watch cnn interview with the ceo. He is shady as they come. He sided with melvin capital ceo gabriel plotkin who shorted gme and owns a piece of robinhood. Robinhood CEO

    speaks to Cuomo after GameStop stock chaos

    https://www.cnn.com/videos/business/2021/01/29/robinhood-ceo-vlad-tenev-gamestop-stock-cpt-vpx.cnn

    JimAllenTX