ORCL tanks, loses $2.37 (-4.91%) within a single day


Oracle Corp. (ORCL) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
ORCL crashes, loses $2.37 (-4.91%) within a single day
ORCL breaks key support level
ORCL dominated by bears dragging the market lower throughout the day
ORCL breaks below 100-day moving average
ORCL closes lower for the 2nd day in a row
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, ORCL finished Thursday at 45.90 tanking $2.37 (-4.91%) on high volume. This is the biggest single day loss in over two months. Today's closing price of 45.90 marks the lowest close since May 4th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 48.09, the share confirms its breakout through the prior session's low having traded $2.43 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for ORCL
Volatility

Thursday's trading range was $1.36 (2.89%), that's far above last trading month's daily average range of $0.71. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 45.47. Breaking below the key support level at 46.04 today, it is now likely to act as resistance going forward.

Trend

Oracle Corp. shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. The stock broke below the 100-day moving average at 48.04 today for the first time since March 20th.

Order Flow

Further selling might move prices lower should the market test May's nearby low at 44.49.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Oracle Corp.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Oracle Corp. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 299.414.99 1.69%
BTCUSD 6,500.1790.59 1.41%
HSI 27,598.02384.61 1.41%
NATGAS 2.9440.033 1.13%
GOLD 1,191.810.8 0.91%
CAC 5,344.93-4.09 -0.08%
DAX 12,210.55-26.62 -0.22%
NKY 22,199.00-71.38 -0.32%
USDJPY 110.50-0.40 -0.36%
DXY 95.980-0.555 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.81 0.59
0.60%
ACN 10 day candlestick chart for ACN164.89 2.00
1.23%
ADBE 10 day candlestick chart for ADBE245.70 -3.19
-1.28%
AAP 10 day candlestick chart for AAP159.72 0.23
0.14%
AES 10 day candlestick chart for AES13.94 0.07
0.50%
AET 10 day candlestick chart for AET198.86 0.39
0.20%
AFL 10 day candlestick chart for AFL46.76 0.26
0.56%
AMG 10 day candlestick chart for AMG146.59 0.30
0.21%
A 10 day candlestick chart for A64.66 -0.84
-1.28%
ABT 10 day candlestick chart for ABT64.72 0.56
0.87%