Oracle Corp (ORCL) Up 0.61%; Price Base in Formation Over Past 30 Days

The Hourly View for ORCL

Last Updated February 16, 2021, 12:35 GMT

At the time of this writing, ORCL’s price is down $-0.16 (-0.26%) from the hour prior. This is the 2nd straight hour ORCL has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on ORCL. Given that we see downtrend 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 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

63.08 was the closing price of the day for Oracle Corp, resulting in today being one in which price moved up 0.61% ($0.38) from the day prior. This move happened on lower volume, as yesterday’s volume was down 13.36% from the day before — and down 32.8% from the same day the week before. The daily price chart of Oracle Corp below illustrates.


Oracle Corp Technical Analysis

Notably, Oracle Corp is now close to its 20 and 50 day averages, located at 62.1 and 62.32 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Oracle Corp’s price has gone down 16 of the previous 30 trading days.

Overheard Around the Web

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

    $ORCL ByteDance walking away from Oracle-TikTok deal, SCMP reports 06:22 ORCL Oracle $63.07 / +0.37 (+0.59%) ByteDance is walking away from an Oracle-TikTok deal, with a source telling the South China Morning Post that the deal was brokered to "entertain demands from the Trump administration," but now that Trump is gone, "the raison d'etre of the deal is gone with him," Zhou Xin reports.