Emerged: 05/09/23
Confirmed: 05/10/23
Breakout: $96.73
Price: $97.44
Target price: $99.73
A.I.dvisor detected a bullish Cup-and-Handle pattern for ORCL stock. This pattern was detected on May 09, 2023 and confirmed on May 10, 2023 . The odds of reaching the target price are 60.45%.
The Cup-and-Handle (sometimes called Cup-and-Holder) pattern is formed when the price of a security initially declines and then rises to form a “U”-like rounded shape (1, 2, 3, also known as the Cup). Once it forms the right lip, it is characterized by short, relatively straight price decline (from 3 to 4) forming the handle.
Consider buying a security or call option at the upward breakout price/entry point. The confirmation move is when the security moves past the breakout price above the right cup lip.