ORCL Large Cap Tech Setting up Bearish ContinuationORCL may not be joining the technology stock parade. Although it ran up
on the 2H chart with a good 30% rise between earnings. the MACD indicator
showed a double top. On the retracement, the price descended but then
stalled. It came up short of a 40-50% retracement and went sideways
into a flat top triangle. The MACD indicator has been with a negative
red histogram and now a downward-curving set of lines.
I see this as a short trade setup in stock not thriving in the technology
run-up. It could be that investors are simply deploying cash to far better
profit opportunities and not considering this stock as a good move.
Others may be already shorting this. I will join them.
