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Downtrend Broken Resist.Archive - 4/19/2024 - Sign In to see current Signals. |
Oracle Corp. (ORCL) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Oracle Corp. (ORCL). During the week, the ORCL dropped -6.23 points, or -5.14%, and closed at 114.88 on Friday, April 19, 2024. It was the worst weekly loss since December 15, 2023. Weekly volume was -31% 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 (113.48) 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 53.39% 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 114.46 on April 19, 2024. ORCL lost 18.31 points, or 13.79%, in 29 days. Price is near the trend low. Daily Technical Indicators: [See ORCL daily technical indicators chart] Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range 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. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong. During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level. Candlestick pattern: [See ORCL candlestick chart pattern] On Friday the chart has formed a Bearish Three Black Crows Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Black Crows Candlestick pattern during the last week.
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