Oracle Is Near Resistance

New York, January 24th (TradersHuddle.com) - Shares of Oracle Corporation (NASDAQ:ORCL) are trading very close to calculated resistance at $34.75. The stock ended the trading session at just $34.69, 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 $29.52 and by the resistance level at $34.75; 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 $29.52 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $34.75 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 16,737.28 ▼67.43 (-0.40%)
o S&P 500 1,934.43 ▼11.73 (-0.60%)
o NASDAQ 4,390.33 ▼31.75 (-0.72%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,737.28 Trade time:12:30PM EDT Value change:▼67.43 (-0.40%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,934.43 Trade time:12:30PM EDT Value change:▼11.73 (-0.60%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,390.33 Trade time:12:30PM EDT Value change:▼31.75 (-0.72%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.