ORCL Stock Confirms Bullish Cup-and-Handle Pattern with 60.45% Target Odds
On May 09, 2023, a bullish Cup-and-Handle pattern was detected on ORCL (Oracle Corporation) stock, with confirmation on May 10, 2023. This is a significant technical indicator that could suggest a potential upward trend for the stock.
The Cup-and-Handle pattern is a reliable technical analysis tool used to identify potential bullish trends in a stock's price movement. It is formed when the price of security declines, forming a U-shaped rounded bottom, followed by a short, relatively straight price decline known as the handle.
The Cup-and-Handle pattern is a continuation pattern, meaning it suggests that the stock's previous trend, in this case, a downtrend, will continue in an upward direction. It is a signal that traders and investors can use to identify potential buying opportunities.
Based on the pattern's confirmation, traders and investors can consider buying ORCL stock at the upward breakout price or entry point. The confirmation move is when the security moves past the breakout price above the right cup lip, indicating a potential uptrend in the stock's price.
According to the odds, there is a 60.45% chance that ORCL stock will reach the target price. While there are no guarantees in trading, the Cup-and-Handle pattern's high probability suggests that traders and investors can consider buying ORCL stock with a bullish outlook.
Overall, the bullish Cup-and-Handle pattern identified in ORCL stock on May 09, 2023, suggests a potential upward trend in the stock's price movement. Traders and investors can use this pattern to identify potential buying opportunities, with a high probability of reaching the target price. However, it is important to remember that trading involves risk, and traders should always exercise caution and perform thorough research before making any investment decisions.
ORCL sees MACD Histogram just turned negative
ORCL saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on March 28, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 43 instances where the indicator turned negative. In of the 43 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on April 01, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on ORCL as a result. In of 80 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
ORCL moved below its 50-day moving average on April 17, 2024 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ORCL declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for ORCL entered a downward trend on April 19, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 16 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
ORCL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. ORCL’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (61.350) is normal, around the industry mean (29.871). P/E Ratio (33.108) is within average values for comparable stocks, (155.580). Projected Growth (PEG Ratio) (1.057) is also within normal values, averaging (2.725). Dividend Yield (0.013) settles around the average of (0.081) among similar stocks. P/S Ratio (6.720) is also within normal values, averaging (55.249).
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General Information
a developer of a diversified line of business software products
Industry PackagedSoftware