Oracle Corporation Stock code ORCL.NYS
Outlook
Price tested the top edge of the cloud on 11th of June 2019 but failed to break above the cloud. Over the next few days, price had declined lower below the bottom edge of the cloud. A closing below the cloud yesterday was the signal of a bearish trend. If price stays below the cloud, it is likely to test the previous low of $49.86 again. MACD is still bearish despite the rally that brought price to the top edge of the cloud. Stochastic is turning down after reaching the overbought extreme zone.
Strategy
$53.20 Short Sell
$49.90 Price Target
$54.80 Risk Management Stop
3 weeks Trade Duration
News Corp A Stock Code NWSA.NAS
Outlook
Price overnight pushed into the cloud in a large and strong bullish candlestick, hinting of a possible price breakout and change in trend. Both Conversion and Base lines also had a bullish crossover the previous day, confirming a bullish trend. MACD is pushing above the zero line and moving higher but Stochastic has reached the overbought zone. If price can stay above the base of the cloud, there is a good chance price it is likely to progress higher to test the next resistance at $13.40
Strategy
$12.30 Buy
$13.40 Price Target
$11.85 Risk Management Stop
3 weeks Trade Duration
