Is Oracle Ready for a Break Out?

New York, July 11th ( - Oracle Corporation (NASDAQ:ORCL) closed the trading day at $29.05, near its 50 day and 200 day moving averages set at $27.63 and $29.08 respectively. Oracle's price action placed the stock above the 50 day moving average but below its 200 day moving average, providing a nice trading setup with clear reference points.

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

Oracle seems to be setting up for a tight range between the 50 day moving average as support and the 200 day moving average serving as resistance.

A tiered approach appears to be the best way to maximize possible movements in the stock, as traders could establish a small position in Oracle and wait for the stock to break out above the 200 day moving average at $29.08. Then they could add to the position as momentum builds with the breakout. On the other hand, if support being referenced at the 50 day moving average set at $27.63 breaks, it could signal further downside for Oracle in the horizon.

TradersHuddle Search

Stock Search:

Site Search:


Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

o Dow Jones 17,798.49 ▼14.90 (-0.08%)
o S&P 500 2,090.11 ▲1.24 (0.06%)
o NASDAQ 5,127.52 ▲11.38 (0.22%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,798.49 Trade time:1:57PM EST Value change:▼14.90 (-0.08%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,090.11 Trade time:1:57PM EST Value change:▲1.24 (0.06%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:5,127.52 Trade time:2:15PM EST Value change:▲11.38 (0.22%)

In The Wires

Copyright © 2013 All Rights Reserved.