Oracle is being sold off aggressively this morning, down over 9% after an earnings miss.
If you are considering an entry for the long-term into this large cap technology stock, it might not be that far away. Specifically, consider the monthly chart, below. While the earnings miss surely was disappointing for bulls, Oracle had also been pressed up against prior major resistance at $36/share before the earnings release, and some initial overhead supply was to be expected.
So now the issue is whether price can stabilize sooner than later after this sell-off. If so, and if the stock does not break back below into the $20’s, we are looking at a cup and handle forming (purple lines, below), where the current sell-off is part of the “handle.”
A higher low above $30 would solidify the pattern, and give buyers an excellent shot at making another run at $36 for a major breakout.
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chess, do you have any more info on that god-like light stage picture? I want to see that live.
it is a pic of Electric Daisy Carnival in Las Vegas final year during Headhunterz
nice, thanks