Potential buy signal on ORCLWatching the 14MA and SAR after sell off from earnings, looking for confirmed buy on momentum indicators.
Price target on chart.
ORCL trade ideas
$ORCL Trade setup for OracleEntry level $57.4 = Target price $61.63 = Stop loss $55.73
Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies. The Hardware segment provides hardware products and hardware-related software products including Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management and other hardware related software, and related hardware support. The Services segment offers consulting, advanced support, and education services. The company was founded by Lawrence Joseph Ellison, Robert Nimrod Miner and Edward A. Oates on June 16, 1977 and is headquartered in Redwood City, CA.
ORCL - A Bullish Future?The stock has created a symmetrical triangle pattern since the beginning of June. Also mixed into this pattern is an earnings gap halfway through the month. The price has continued to trade within this gap range but the consolidation has led to the stock price moving out of the triangle pattern. The recent pullback, while remaining in the gap zone, is now testing the previous triangle resistance line as support. The stock is also exiting an oversold position.
I have two Fibonacci Extension levels targeted. The 61.8% & 100% levels are noted by the dashed green lines should the bullish move continue.
$ORCL On way to challenge all time highs.Entry level above the 100ma @ $55.60 = Target price $60.00.
Rising 200 & 50 Ma's are rising and the stock has bounced off them as per usual.
Buy-side volume increasing.
RSI in strong uptrend.
Stochastic has reset and moving higher.
MACD looks set to reverse away from zero line, while histogram ticks higher.
It reads like Amazon!I think we are headed for a red week or 2 in the US markets. Oracle broke both Kijun and Tenkan in the past two weeks on the Weekly. I would expect a 3rd red candle here. On the Monthly it broke the Tenkan giving an alert for bullish momentum lost,this is reminiscent of Amazon on the monthly as well. The 1st price target is the monthly Kijun which is weekly SSB. The 2nd target is a monthly flat Tenkan area below the Kijun.
Entry: 2 small position @54.17
SL: 56.46
TP1: 51.39
TP2:47.97
NB: If you dont manage your risk it will manage you!!
ORCL technicals at resistance level with earningsTechnical Analysis
On June 20th, we started and important channel, and we are back at this level at $55.5
Since this date, we have a slight RSI upward trend, with an even bigger OBV uptrend.
Fibonacci retracement level at 50%
Important dates
Earnings will be announced Thursday September 12th, after the close.
Daily ORCL stock price trend forecasts analysis.12-JUL
Investing position: In Rising section of high profit & low risk
S&D strength Trend: In the midst of an adjustment trend of downward direction box pattern price flow marked by limited rises and downward fluctuations.
Today's S&D strength Flow: Supply-Demand(S&D) strength flow appropriate to the current trend.
read more: www.pretiming.com
Forecast D+1 Candlestick Color : GREEN Candlestick
%D+1 Range forecast: 0.5% (HIGH) ~ -0.6% (LOW), 0.1% (CLOSE)
%AVG in case of rising: 1.1% (HIGH) ~ -0.4% (LOW), 0.8% (CLOSE)
%AVG in case of falling: 0.5% (HIGH) ~ -1.0% (LOW), -0.4% (CLOSE)
Oracle surprises naysayers with ambitious projections for 202The epiphany of OLD TECH NYSE:ORCL announced quarterly revenue of $11.1 billion today, yielding earnings of $1.16 per share. Analysts were expecting the company to report revenue of $10.95 billion and earnings of $1.07 per share.During a very upbeat earnings call, CEO Safra Catz said she expects fiscal 2020 revenue to grow “faster” than in the previous year and projected “double-digit” earnings-per-share growth.
"Our high-margin Fusion and NetSuite cloud applications businesses are growing rapidly, while we downsize our low-margin legacy hardware business. The net result of this shift away from commodity hardware to cloud applications was a Q4 non-GAAP operating margin of 47%, the highest we've seen in five years," said CEO Safra Catz.
Technically the stock is setting up for a major breakout from a 2 year channel, afterhours the stock has moved above all MA'S and Ichimoku cloud is now support.
THE WEEK AHEAD: ORCL, GDXJ, TBT, TLT, SMH, OIHEARNINGS
ORCL (50/29) releases earnings on Wednesday after market close, so look to put on a play in the waning hours of Wednesday's New York session.
Pictured here is a non-standard short strangle, with the short call side doubled up in order to compensate for greater than one dollar wide strikes: 1.30 credit, break evens at 48.70/58.15, and delta/theta of -5.52/58.15.
As of Friday close, the June 21st to July 19th monthly volatility contraction is from 46.6% to 29.3% or about 29.7%.
Look to manage intratrade by rolling the untested side toward current price on approaching worthless with a 50% max take profit target.
Generally, I don't play stuff this small that doesn't have dollar wides, since rolling intratrade can be a headache, as can rolling out, since there is limited strike availability. It's really another aspect of liquidity, which is not only about the width of markets intraexpiry, but also about the availability of expiries out in time, as well as strikes.
BROAD MARKET
EEM (27/20)
QQQ (23/20); NDX (24/20)
IWM (23/19); RUT (25/19)
SPY (21/15); SPX (19/15)
EFA (16/13)
With 33 days to go in the July cycle and 61 to go for August, we're kind of in the "in between" for the 45 days 'til expiry sweet spot, so I would wait until August comes closer into view for either broad market or sector if you want to keep things in that 45 days 'til expiry wheelhouse.
SECTOR EXCHANGE-TRADED FUNDS
Top 5 By Rank: GDXJ (62/31), TBT (52/24), TLT (51/12), SMH (50/31), OIH (49/40).
SINGLE NAME WITH EARNINGS IN THE REAR VIEW
A lot of earnings start kicking off in the July cycle, so would wait to play these as earnings announcement volatility contraction plays instead of wading in here and getting caught in a volatility expansion.
ME PERSONALLY
To keep things simple, mundane, and boring throughout the summer months, I'm looking to just to play broad market for the next couple of cycles -- SPY/SPX, QQQ/NDX, and IWM/RUT. (See, e.g., RUT Sept Iron Condor below).
