Upgrade Alert for Oracle (ORCL)
Oracle (NASDAQ:ORCL) was upgraded from Underweight to Neutral at JP Morgan today. The stock closed yesterday at $40.55 on volume of 22.7 million shares, above average daily volume of 10.8 million.
There is potential upside of 9.9% for shares of Oracle based on a current price of $40.55 and an average consensus analyst price target of $44.55. The stock should discover initial support at its 50-day moving average (MA) of $39.93 and subsequent support at its 200-day MA of $38.06.
In the past 52 weeks, shares of Oracle have traded between a low of $33.13 and a high of $45.33 and closed yesterday at $40.55, which is 22% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.
Oracle Corporation supplies software for enterprise information management. The Company offers databases and relational servers, application development and decision support tools, and enterprise business applications. Oracle's software runs on network computers, personal digital assistants, set-top devices, PCs, workstations, minicomputers, mainframes, and massively parallel computers.
SmarTrend is tracking the current trend status for Oracle and will alert subscribers who have ORCL in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades Oracle