Oracle (ORCL) Closes Last Hour Up $0.07; Morning Star Pattern Appearing on Chart, 3 Day Down Streak Ended, Breaks Above 20 and 50 Day Averages

The Hourly View for ORCL

Last Updated September 10, 2020, 15:9 GMT

At the time of this writing, ORCL’s price is up $0.89 (1.57%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as ORCL has now gone up 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Of note is that the 50 hour changed directions on ORCL; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 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’s 3 day negative streak has officially concluded, as the candle from yesterday closed up 2.95% ($1.63). The price move occurred on volume that was down 18.46% from the day prior, but up 55.91% from the same day the week before. Let’s take a look at the daily price chart of Oracle Corp.

ORCL

Oracle Corp Technical Analysis

First things first: Oracle Corp crossed above its 20 and 50 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that Oracle Corp’s price has gone down 16 of the previous 30 trading days. Also, candlestick traders! Note we see morning star pattern appearing here as well.

Overheard Around the Web

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

    $ORCL even if ORCL doesn’t get the sale of tiktok either it shows they Willis be able to buy it. Buy it becauS of the amount of money it’s made , which in theory looks really good heading into today earnings ! I’m no expert but it doesn’t seem like they would spend their only money to buy Tiktok

    Doozane