Oracle (ORCL) Crosses Pivot Point Resistance at $35.10
Shares of Oracle (NASDAQ:ORCL) have bullishly opened above the pivot of $34.81 today and have reached the first resistance level of $35.10. Should the shares continue to rise, the resistance pivots of $35.26 and $35.71 will be of interest.
Over the past year, Oracle has traded in a range of $24.72 to $36.50 and is now at $35.09, 42% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.
Oracle (NASDAQ:ORCL) has potential upside of 6.7% based on a current price of $35.09 and analysts' consensus price target of $37.44. The stock should find initial support at its 50-day moving average (MA) of $32.61 and further support at its 200-day MA of $30.48.
SmarTrend recommended that subscribers consider buying shares of Oracle on November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.47. Since that recommendation, shares of Oracle have risen 11.0%. We continue to monitor ORCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts Oracle