Oracle Higher With High Volume

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Oracle Higher With High Volume

Published on Tuesday, 07 September 2010 11:38 Written by Christian Paolinetti

orcl New York, September 7th (TradersHuddle.com) - Unusual high volume detected on shares of Oracle Corporation (NASDAQ:ORCL), early in the trading session. Oracle is currently trading higher by 5.5%, so definitely the buyers stepping in, as the stock's volume is already above average.

Oracle Corporation (NASDAQ:ORCL) supplies software for enterprise information management. The Company offers databases and relational servers, application development, and enterprise business applications.

Oracle has already traded 1.82 times its 3-month average volume, and has calculated support and resistance at $21.66 and $24.59 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.78% from its previous trading close, which means that Oracle stock is outperforming the overall market.

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