Oracle returns lower - Analysis - 21-06-2022

Economies.com
9 months ago

Oracle's stock (ORCL) returned lower in the intraday levels after spiking yesterday as the company reported the strongest increase in earnings in 10 years, marking a profit of 0.9% last week, the only tech sector gaining ground, with the while sector falling 5%.

 

The company is now down 1.44%, or 99 cents, settling at 67.72, with trading volumes surpassing 16.4 million shares, above 10-day averages of 11.8 million shares.

 

The main downward trend dominates in the short term as it trading alongside the downward trend line, with negative pressure from the 50-day SMA, countered by positive signals from the RSI.

 

Therefore we expect more losses for the stock, targeting the support of 63.76, provided the resistance of 70.23 holds on.

 

Oracle Corporations provides data bases, devices, and cloud services for company all over the world in finance, healthcare, retail and others. 

 

Open Live Trading Account

 

Expected trend for today: Bearish

Stocks Technical Analysis

United States Analysis

Stocks

Harley Davidson tries to recoup some losses - Analysis - 31-03-2023
19 hours ago
Harley Davidson's stock rose in the intraday levels, buoyed by positive signals from the RSI while ...
United States Analysis

Stocks

3M returns lower - Analysis - 31-03-2023
19 hours ago
3M's stock (MMM) returned lower in the intraday levels amid the complete dominance of the main ...
United States Analysis

Stocks

Kohl's ends cautiously higher - Analysis - 31-03-2023
19 hours ago
KOHL's Corporation's stock (KSS) rose in the intraday levels while trying to recoup some recent ...