Watch for Oracle to Potentially Rebound After Falling 1.74% Yesterday
Oracle (NASDAQ:ORCL) traded in a range yesterday that spanned from a low of $39.37 to a high of $40.17. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $40.17 on volume of 5.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that subscribers consider buying shares of Oracle on January 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.91. Since that recommendation, shares of Oracle have risen 12.3%. We continue to monitor ORCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, Oracle has traded in a range of $33.13 to $45.33 and is now at $39.56, 19% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.
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