Earnings play: Oracle

Oracle's stock price appears to be consolidating within a symmetrical triangle pattern.

Crypto 10

On Thursday, after market, Oracle (ORCL) is expected to report second quarter EPS of $1.00 compared to $0.90 last year on revenue of approximately $9.8 billion vs. $9.6 billion a year earlier. Oracle is an information technology and software company, and its expected move based on front-month options is 4.9%.

Technically speaking, on a daily chart, Oracle's stock price appears to be consolidating within an intermediate-term symmetrical triangle pattern that began to form in mid-August. Looking to the short-term, one can see that price has just broken out to the downside of a bullish trendline that price has been rising on top of since November 23rd. The RSI is over 50, but pointing downward. The simple moving averages (SMAs) are arranged in a mixed to bullish manner, as the 50-day SMA is above the 20-day SMA and the 20-day SMA is above the 200-day SMA. In the short-term, price will likely fall towards the lower trendline of the symmetrical triangle pattern. If price can reach the lower trendline, price is likely to find support and bounce towards the upper trendline of the triangle. If price can manage to breakout to the upside of the upper trendline then the next targets would be 60.50 and 61.85. There is a support level at 57.50 which traders should be aware of, as price could potentially rebound from there. On the other hand, if price falls below the lower trendline it would be a bearish signal. If price fails to be supported at 55.60, then price could possible tumble further.  



Source: GAIN Capital, TradingView

More from Earnings

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.