Oracle (ORCL) Crosses Pivot Point Support at $34.77
Shares of Oracle (NASDAQ:ORCL) opened today below their pivot of $35.39 and have already reached the first level of support at $34.77. Investors may be interested in a cross of the next downside pivot targets of $34.42 and $33.45.
There is potential upside of 8.2% for shares of Oracle based on a current price of $35.00 and an average consensus analyst price target of $37.86. The stock should find initial support at its 50-day moving average (MA) of $33.74 and further support at its 200-day MA of $30.83.
Over the past year, Oracle has traded in a range of $24.72 to $36.50 and is now at $35.00, 42% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.8%.
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 11.6%. We continue to monitor ORCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts Oracle