ORCL closes within prior day's range

Oracle Corp. (ORCL) Technical Analysis Report for Sep 14, 2018

Highlights

ORCL finds buyers again around 48.94
ORCL closes within previous day's range

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

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.

Daily chart for ORCL

Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 49.75 where further buy stops could get triggered.

Conclusion

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

Market Conditions for Oracle Corp.

Loading Market Conditions for $ORCL (Oracle Corp.)...
Latest Report:

ORCL breaks below prior session low

Sep 18, 2018
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