Oracle Stock Forecast

Weaker technical forecast for Oracle as stock downgraded to Sell Candidate.
(Updated on Apr 18, 2024)

ORCL Signals & Forecast

There are few to no technical positive signals at the moment. The Oracle stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $120.18 and $121.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -10.24%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Oracle stock

Oracle finds support from accumulated volume at $114.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.06 (2.64%) between high and low. For the last week, the stock has had daily average volatility of 1.97%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ORCL) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Oracle Corporation to open at $116.82, and during the day (based on 14 day Average True Range), to move between $113.43 and $118.57, which gives a possible trading interval of +/-$2.57 (+/-2.22%) up or down from last closing price. If Oracle Corporation takes out the full calculated possible swing range there will be an estimated 4.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $114.31 (1.46%) than the resistance at $125.52 (8.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Oracle Corporation stock A Buy?

The Oracle stock holds several negative signals and despite the positive trend, we believe Oracle will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.593 Sell Candidate Downgraded

Predicted Opening Price for Oracle Corporation of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.