Oracle Corp Stock Code ORCL.NYS
Outlook
Price tested the cloud in the past week, dipping to a low of $84.73 on 14 September. However, the price decline was halted by the lower edge of the cloud as well a previous resistance turned support line. The price correction ended after price broke above the cloud in the previous trading session. Lagging Span is currently below price of 26 days ago but above the cloud. MACD has a bullish crossover and is hinting of a bullish price trend. We think price is likely to move higher to $98.80 in the next 2-3 weeks based on a rectangle chart pattern price target.
Strategy
$90.00 Buy
$98.80 Price Target
$87.20 Risk Management Stop
3 weeks Trade Duration
