Oracle Does it Again: Heads Up for the 5th Straight Day

The Hourly View for Oracle

  • At the time of this writing, ORCL’s price is up $0.16 (0.17%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Oracle’s hourly price chart is shown below.

ORCL

The Daily View for Oracle

  • At the time of this writing, ORCL’s price is up $0.75 (0.78%) from the day prior.
  • Oracle has seen its price go up 5 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Oracle. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between ORCL’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in ORCL’s price.

Below is a daily price chart of Oracle.

ORCL

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