Oracle (ORCL) Closes Prior Hour Down -0.59%; 2 Day Up Streak Snapped, Makes Big Move Relative to Past Three Months, Price Base in Formation Over Past 14 Days

The Hourly View for ORCL

Last Updated September 14, 2020, 23:9 GMT

At the moment, ORCL’s price is up $3.12 (5.47%) from the hour prior. The hourly chart shows that ORCL has seen 2 straight down 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 ORCL. Given that we see an uptrend on the 20 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 and 100 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Oracle Corp Daily Price Recap

57 was the closing price of the day for Oracle Corp, resulting in today being one in which price moved down 0.58% ($0.33) from the day prior. The price move occurred on stronger volume; specifically, yesterday’s volume was up 96.99% from the day prior, and up 295.39% from the same day the week before. Below is a daily price chart of Oracle Corp.

ORCL

Oracle Corp Technical Analysis

The first thing we should note is that the current price of Oracle Corp is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 14 days Oracle Corp’s price has gone up 8 them.

Overheard Around the Web

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

    $ORCL I don’t understand any post on this board. Have you ever seen Oracles chart or know anything about this company? It trades in a very small range. It isn’t falling and prob not going up much either. They are making money hand over fist. If a 2 point lose from a new high is a bag, I give up

    Jay1558