Oracle tries to vent off oversold saturation - Analysis - 07-17-2021

Oracle's stock (ORCL) rose 0.79% in the last session while recouping some recent losses and venting off oversold saturation in the RSI, settling at 88.94, amid the dominance of the downward correctional trend in the short term, while hurt by piercing the main upward trend line, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the important support of 84.95, provided it settles below the resistance of 91.10.

Expected trend for today: Bearish