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Look for Shares of Oracle Corp to Potentially Pullback after Yesterday's 8.05% Rise

By Nick Russo

Oracle Corp (NYSE:ORCL) traded in a range yesterday that spanned from a low of $46.19 to a high of $49.51. Yesterday, the shares gained 8.1%, which took the trading range above the 3-day high of $48.01 on volume of 8.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Oracle Corp share prices have moved between a 52-week high of $57.06 and a 52-week low of $37.62 and are now trading 32% above that low price at $49.65 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Oracle Corp on December 31st, 2019 by issuing a Downtrend alert when the shares were trading at $52.70. Since that call, shares of Oracle Corp have fallen 12.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders oracle corp

Ticker(s): ORCL