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Oracle Corp: The Winning Streak Continues (ORCL)

By Amy Schwartz

Oracle Corp (NYSE:ORCL) traded at a new 52-week high today of $54.75. Approximately 1.2 million shares have changed hands today, as compared to an average 30-day volume of 15.1 million shares.

Oracle Corporation supplies software for enterprise information management. The Company offers databases and relational servers, application development and decision support tools, and enterprise business applications. Oracle's software runs on network computers, personal digital assistants, set-top devices, PCs, workstations, minicomputers, mainframes, and massively parallel computers.

Oracle Corp has overhead space with shares priced $54.74, or 3.7% below the average consensus analyst price target of $56.87. The stock should discover initial support at its 50-day moving average (MA) of $52.66 and subsequent support at its 200-day MA of $49.29.

In the past 52 weeks, Oracle Corp share prices have been bracketed by a low of $42.40 and a high of $54.75 and are now at $54.74, 29% above that low price. The 200-day and 50-day moving averages have moved 0.52% higher and 0.78% higher over the past week, respectively.

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 15.2%. We continue to monitor ORCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows oracle corp

Ticker(s): ORCL