ORCLCL trade ideas
ABC BullishORCL fell from a steep rising wedge and looks to be recovering. Rising wedges are usually bearish and interrupts supply and demand.
Possible AB=CD pattern but D is not here yet so I call this ABC bullish.. If you think you have an AB=CD pattern, use the magnet and move leg AB to over C.
AB=CD is a reversal pattern that helps you identify when the price is about to change direction. The pattern consists of three legs, with two equal legs labelled AB and CD, together they form a zig-zag shape. The retracement (from B to C) can be between 38.2% to 78.6% of the A-B leg, however, an ideal pattern has a retracement of 61.8% to 78.6%. ORCL retraced to the 0.618 on the BC leg which is where you can begin to figure out which harmonic pattern you may have. There is another pattern this could end up being so I say "possibly" AB=CD (o:
Possible stop below C, which is the thing I really like about this pattern. If it does not blast off, you did not lose a whole lot if you have your stop a bit under c, avoiding poossiblly getting stopped out by retests of C.
Targets calculated by subtracting A from B and applying fib levels.
ORCL is in a long term uptrend..
Not a recommendation..
Oracle Pulls Back After Breaking OutOracle has been one of the quieter names in tech recently, but the chart is showing signs of a potential rally.
The software giant hit new highs in December following a strong quarterly report. Importantly, its newer cloud business surprised to the upside.
ORCL then pulled back and has retraced the entire move. Friday and Monday, it held the same $60 level where it initially broke out on December 11. That price line could be especially important because the previous breakout attempt in September and October failed around the same area. Has old resistance become new support?
The bounce is also occurring at the 50- and 100-day simple moving averages (SMAs).
Stochastics additionally are showing an oversold condition.
Flipping to the weekly chart, we see ORCL’s now trying to form a bullish inside candle. That could be a potential sign of stabilization after five straight downside weeks.
Finally, ORCL trades at much lower multiples (price/earnings, price/sales) than peers like Microsoft (MSFT) and Adobe (ADBE). If its recent Cloud gains continue, investors may be willing to pay higher valuations.
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$ORCL - rebound potentialEvaluate potential recovery on ORCL
if GS (goldman sachs) and JPM (JP Morgan) get 360 on SPY by EOY, like they want (and they typically get what they want) then this rebound is totally feasible.
However, if we have learned anything, it is that trading based on trend and technical analysis in 2020 has uncovered uncharted territory. In order for the market-manipulators to make money, they have resorted to exacerbating their tactics in retail, and they are winning. This creates a bumpy road for average/new traders, who must to adjust their strategies to match the manipulation.
ORCLBull Flag Idea. I would Buy on breakout $64.00 with a stop loss at $62.60 and take profits at the fib extensions . If breakout is hit within the first 30 minutes of market open id wait for a break of that 30 minute high to buy to avoid possibly getting faded to the downside after open. If it takes off running at the open and explodes higher i wouldn't chase it and idea would be void
ORCLORCL 1/12/21 1D Time Frame
Scenario 1:
Stochastics is currently at over sold levels ready to move up however MACD shows bearish signal with histogram confirming more bearish momentum. Price could go lower around 50ema area and (1)bounce back to a bullish move, (2) consolidate side ways then move up. Keep a tight stop loss just below the 50ema incase support breaks.
Scenario 2:
The 50ema support does not hold and price goes down to channel bottom area before moving up again.
Disclaimer
I do not know how the market will move tomorrow. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for practice, informational and entrainment purposes only as I am not a registered investment advisor and do not offer investment advice and recommendation. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
$ORCL with a bullish outlook following earning releaseThe PEAD projected a bullish outlook for $ORCL after a positive over reaction following its earning release placing the stock in Drift B
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ABC BullishSeems this undervalued company has issues getting going and staying going (o:
A few Rising wedges slowed it down a long the way, but appears to be recovering from it's last fall and short interest is low.
NV and OBV are both high showing interest..
Stop is often placed under C..
ABC is a measured move pattern. There is also a bearish ABC pattern and the target is D. It is a correction pattern within a larger pattern as a rule C can not be under A or you are looking at another pattern.
Just an observation...trade safely
ORacle Short to 52 and then Long to 65Monthly
In good uptrend till 2029-2030
RSI in Up Zone
Nice enter always from EMA 50 on Monthly
After second test of EMA from 0.618 Fib. = 52$
Weekly
No comments- simply wait for 52.
You could short it till Q2 2021.
1 SHORT
Open 55.5
Sl 57
TP 52
2nd Phase
Long till 2024
Open 52
TP 65.5
SL 48
I'll keep an eye out.They're mostly into software and enterprise hardware.
Or rather into premium support packages and shit hardware.
But you can't deny they've been doing pretty well.
I can't see any model that would allow for them to sustain this growth. If I'm wrong I'll consider buying a dip eventually.
