CFD Trading – Sell Oracle Corp (ORCL.NYS) at $56.00. Stop at $57.75 and Target at $53.40.

Oracle Corp Stock Code ORCL.NYS

Price broke below the cloud back on 27 October and reached a high of $55.14 on 9 November.  A price correction managed to bring price higher to $59.08 but the rally was capped by the upper edge of the cloud as well as the Base line. As a result, price has declined below the cloud again. Capped by the Conversion line at $57.60, price could be about to move lower to the next support level at $53.38. Conversion and Base lines had a bearish crossover earlier, hinting of a bearish trend. Lagging Span is below price of 26 days ago and below the cloud at the moment, confirming the bearish trend. MACD has a bearish crossover and is likely to move lower, hinting of a bearish price trend ahead. We think the corrective rally is over and price is likely to move towards the support at $53.38.

$56.00                Sell
$53.40                Price Target
$57.75                Risk Management Stop
3 weeks              Trade Duration

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