ORACLE CORP is showing promising signs of setting up for a breakout.

Our stockscreener has identified a possible breakout setup on ORACLE CORP (NYSE:ORCL). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:ORCL for potential opportunities.

Technical Analysis Observations

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Taking everything into account, ORCL scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ORCL is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, ORCL did better than 87% of all other stocks. On top of that, ORCL also shows a nice and consistent pattern of rising prices.
• ORCL is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ORCL is lagging the market slightly.
• ORCL is part of the Software industry. There are 283 other stocks in this industry, ORCL did better than 67% of them.
• In the last month ORCL has a been trading in the 152.66 - 191.99 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Check the latest full technical report of ORCL for a complete technical analysis.

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:ORCL has a 8 as its setup rating:

ORCL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 172.20, a Stop Loss order could be placed below this zone.

How to trade NYSE:ORCL?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Of course, there are many ways to trade or not trade NYSE:ORCL and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.