ORCL closes within prior day's range
Oracle Corp. (ORCL) Technical Analysis Report for Sep 14, 2018
ORCL finished the week 3.01% higher at 49.25 after gaining $0.29 (0.59%) today on high volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.
Friday's trading range was $0.51 (1.04%), that's slightly below last trading month's daily average range of $0.60. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 49.70. After having been unable to move lower than 48.88 in the previous session, Oracle Corp. found buyers again around the same price level today at 48.94.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 49.75 where further buy stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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