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Wednesday, 19 September 2018

Oracle Corp (NYSE: ORCL): 19 September 2018, Wednesday, 11.34pm Singapore Time


Oracle Corp (NYSE: ORCL): 
19 September 2018, Wednesday, 11.34pm Singapore Time
(Click on Technical Chart above to Expand)

Attached is the technicals for Oracle Corp (NYSE: ORCL). Oracle displayed a midterm bullish divergence of significant scale and its correction ended with a fake breakdown as illustrated by the blue circled region. This fake breakdown is an intense re-accumulation operation. Fake breakdowns are essentially very bullish in nature. Two previous falling windows of resistances are now re-captured and act as support bands 1 and 2 now -- illustrated as dark green bands on chart. There is furthermore another layer of buying pressure at the light green zone formed by 50MA above the 200MA. This region is also behaving as support band now. Oracle is now ready for more uptrends for 4Q-2018 and 1Q-2019. Bullish.


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