Five Star Stock Watch: Oracle Corporation
Oracle released its earnings report this week and the tech giant reported weaker than expected results.
Probably just the weather.
How has Oracle's stock performed in light of all the news it's received this week? Check it out below!
The company: Oracle Corporation
Ticker Symbol: (NYSE: ORCL)
Industry: Application Software
Oracle Corporation develops, manufactures, markets, hosts, and supports database and middleware software, applications software, and hardware systems. The company also licenses database and middleware software.
Related: Five Star Stock Watch: Herbalife
Oracle provides customers with rights to unspecified software product upgrades and maintenance releases. In addition, it offers server storage, networking, virtualization software and operating systems. Further, the company provides consulting services in business, enterprise architecture planning and design, initial product implementation and integration, and managed cloud and education services.
Please take a look at the one-year chart of Oracle below with added notations:
Other than a dip lower to start the morning yesterday, the stock has held up just fine in lieu of the negative news it has recieved this week. However, over the last three months the stock seems to be forming an ending diagonal (or wedge) pattern.
Patterns of this nature are bearish in the implications. Confirmation of the pattern is needed though, and that confirmation would come in the form of a break of the pattern's uptrending support line.
Related: Five Star Stock Watch: EMC
Oracle isn't set to release earnings again until next quarter.
No matter what your strategy, or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
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