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
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.
ConditionForecastDirectionWinAvgWorstBestEvents
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ORCL closes within previous day's range

Jun 19, 2018
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