ORCL (Oracle) is Following My Preferred Technical Price Path... So Far
by Mike Paulenoff
March 23, 2025 • 10:07 AM EDT
On March 10, 2025, fifteen minutes before the closing bell and Oracle's forthcoming Earnings Report, below was the analysis I posted to the MPTrader Discussion Room about ORCL:
"... My preferred scenario indicates a negative reaction to the news that sends ORCL reeling to test important support at 139.50-141.20-- where ORCL MUST reverse to the upside to avert triggering still lower projections into the 118-123 (back the truck up) target window... Last is 149.32"...
As it turned out, ORCL reacted negatively to Earnings, initially spiking down to a new multi-month low at 137.51, from where it ricocheted higher, recovering above my key support window of 139.50-141.20. The next day, on March 11, 2025, I posted a follow-up analysis about the price behavior of ORCL in the aftermath of Earnings:
ORCL is following the price path that we discussed late yesterday prior to Earnings. That is to say, the initial knee-jerk decline in reaction to Earnings held important support at 139.50 (after piercing beneath it briefly during yesterday's aftermarket session). ORCL has since bounced to 143.50-145.50. As long as a resumption of selling pressure is contained above yesterday's spike low at 137.51, my technical work is "friendly" to ORCL's recovery bounce continuing higher toward a challenge of consequential resistance from 152 to 158... Last is 144.01...
Fast-forward through last week to Friday's close at 152.49. ORCL followed my preferred near-term technical scenario, climbing to a high of 155.75 (3/17/25)—right into my aforementioned "consequential resistance target zone from 152 to 158" after its March 10 Earnings Report. As of Friday's close of 152.49, ORCL has climbed as much as 8.2% and is currently up 5.9% from my March 11 post-Earnings update...
What's next for ORCL-- a blast-off toward my next optimal target resistance zone at 165-168 (see my attached 4-Hour Chart), or a failure to hurdle last week's high at 155.75 followed by another loop down that revisits its post-Earnings low?
Join me and our MPTrader members for our ongoing actionable analysis and discussions about ORCL, Mag 7 names, and many other individual stocks, sector ETFs, macro indices, bond market ETFs, oil, precious metals, and Bitcoin. Join us ahead of an eventful final week of March and Q1 2025, heading into POTUS' April 2nd deadline for imposing reciprocal tariffs...
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