Approaching Resistance: Oracle

New York, August 31st (TradersHuddle.com) - Shares of Oracle Corporation (NASDAQ:ORCL) are trading very close to calculated resistance at $32.30. The stock ended the trading session at just $31.17, which is near levels that make it difficult to buy or start a position.

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

Oracle's stock range is defined by its calculated support defined at $29.07 and by the resistance level at $32.30; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for Oracle. However, as the stock pulls back towards $29.07 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $32.30 then traders will get an opportunity to enter the stock as it moves to a higher range.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,205.24 ▲48.39 (0.28%)
o S&P 500 2,006.78 ▲5.21 (0.26%)
o NASDAQ 4,577.97 ▲15.78 (0.35%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,205.24 Trade time:9:42AM EDT Value change:▲48.39 (0.28%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,006.78 Trade time:9:42AM EDT Value change:▲5.21 (0.26%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,577.97 Trade time:9:42AM EDT Value change:▲15.78 (0.35%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.