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's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for ORCL turned positive on May 25, 2023. Looking at past instances where ORCL's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 04, 2023. You may want to consider a long position or call options on ORCL as a result. In of 79 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ORCL advanced for three days, in of 342 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 335 cases where ORCL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 8 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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 .
ORCL broke above its upper Bollinger Band on May 25, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put 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 Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding 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 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 89, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding 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 significantly 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 (0.000) is normal, around the industry mean (31.420). P/E Ratio (36.232) is within average values for comparable stocks, (167.594). Projected Growth (PEG Ratio) (2.149) is also within normal values, averaging (4.120). Dividend Yield (0.012) settles around the average of (0.068) among similar stocks. P/S Ratio (6.309) is also within normal values, averaging (76.317).
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Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a developer of a diversified line of business software products
Industry PackagedSoftware
ORCL and
Correlation & Price change
A.I.dvisor indicates that over the last year, ORCL has been loosely correlated with SNPS. These tickers have moved in lockstep 57% of the time. This A.I.-generated data suggests there is some statistical probability that if ORCL jumps, then SNPS could also see price increases.
| Ticker / NAME | Correlation To ORCL | 1D Price Change % | ||
|---|---|---|---|---|
| ORCL | 100% | +2.21% | ||
| SNPS - ORCL | 57% Loosely correlated | +0.25% | ||
| CDNS - ORCL | 56% Loosely correlated | +0.53% | ||
| ROP - ORCL | 55% Loosely correlated | -0.09% | ||
| ADBE - ORCL | 54% Loosely correlated | +3.41% | ||
| ANSS - ORCL | 53% Loosely correlated | +3.00% | ||
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