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Oracle Corp Set to Possibly Pullback After Yesterday's Rally of 8.05%

By James Quinn

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.

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.

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 past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1%.

Keywords: rebounders oracle corp

Ticker(s): ORCL