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Christian Tharp, CMT

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Five Star Stock Watch: Oracle Corporation

Most tech stocks haven’t been in vogue lately, especially some of the big names like Netflix, Amazon and Google.

However, one big tech name has been bucking the tech down trend over the last few months, and that's Oracle.

Although Oracle isn’t the best trading stock, it certainly is on a lot of investors list of “to-dos”.

The company: Oracle Corporation

Ticker Symbol: (NYSE: ORCL)

Sector: Technology

Industry: Application Software

Oracle Corporation develops, manufactures, markets, hosts, and supports database and middleware software, applications software, and hardware systems.

Related: Five Star Stock Watch: Twitter

The company also provides customers with rights to unspecified software product upgrades and maintenance releases; patches released; Internet access to technical content; and Internet and telephone access to technical support personnel.

Please take a look at the 1-year chart of Oracle below with added notations:

Oracle’s chart is one of the easiest breakdowns highlighted in the Five Star Stock Watch series recently.

The uptrending channel that Oracle is in makes the trading decisions somewhat easy, as long as one is patient.

Buy on a pullback to the channel support. Short the stock on a break out of that channel. That’s it.

The stock closed yesterday at 41.21.

Related: Five Star Stock Watch: Sarepta Therapeutics

Oracle isn't set to release earnings again until June, 2014.

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.

Tags: Amazon

Posted in: Education Long Ideas Short Ideas Technicals Tech Trading Ideas General