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Bearish Moving Average Cross by Oracle Corp (ORCL)

By Shiri Gupta

Oracle Corp (NYSE:ORCL) shares have crossed bearishly below their 10-day moving average of $52.58 on a volume of 8.0 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Oracle Corp share prices have moved between a 52-week high of $53.48 and a 52-week low of $42.40 and are now trading 23% above that low price at $52.08 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of Oracle Corp on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.29. Since that recommendation, shares of Oracle Corp have risen 12.2%. We continue to monitor ORCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses oracle corp

Ticker(s): ORCL