Oracle Stock Forecast

Oracle stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on Sep 13, 2024)

ORCL Signals & Forecast

Mostly positive signals in the chart today. The Oracle stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $151.54 and $139.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, August 07, 2024, and so far it has risen 28.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Oracle stock

Oracle finds support from accumulated volume at $161.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $12.94 between high and low, or 8.03%. For the last week, the stock has had daily average volatility of 4.27%.

The Oracle stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stock may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $156.62 (-3.34%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 48 days ago.)

Trading Expectations (ORCL) For The Upcoming Trading Day Of Monday 16th

For the upcoming trading day on Monday, 16th we expect Oracle Corporation to open at $165.66, and during the day (based on 14 day Average True Range), to move between $157.12 and $166.94, which gives a possible trading interval of +/-$4.91 (+/-3.03%) up or down from last closing price. If Oracle Corporation takes out the full calculated possible swing range there will be an estimated 6.06% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $161.38, some $0.650 (0.40%) from the current price of $162.03, our system finds the risk reward attractive.

Is Oracle Corporation stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Oracle stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

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Current score: 3.608 Buy Candidate Downgraded

Predicted Opening Price for Oracle Corporation of Monday, September 16, 2024

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