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Downtrend Broken Resist.Archive
- 4/26/2024 -
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Oracle Corp. (ORCL) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 4 consecutive negative weeks for the Oracle Corp. (ORCL). During the week, the ORCL gained 2.33 points, or 2.03%, and closed at 117.21 on Friday, April 26, 2024. Weekly volume was -29% below average.
 Long-term trend: [See ORCL long-term trend chart]
A long-term uptrend had started on September 29, 2022 at 60.78 and reached 132.77 on March 21, 2024. ORCL gained -71.99 points, or -118.44%, in 77 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (114.12) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See ORCL medium-term trend chart]
A medium-term uptrend had started on December 13, 2023 at 99.26 and reached 132.77 on March 21, 2024. ORCL gained -33.51 points, or -33.76%, in 14 weeks. The price is now at the 46.43% retracement level.
 Weekly Technical Indicators: [See ORCL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since February 2, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See ORCL short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 132.77 and reached 112.78 on April 25, 2024. ORCL lost 19.99 points, or 15.06%, in 35 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 112.32 and resistance is at 118.23. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.
 Daily Technical Indicators: [See ORCL daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since March 27, 2024. This is an indication that the short-term trend is down.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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