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Bearish Moving Average Cross by Oracle Corp (ORCL)

By David Diaz

Oracle Corp (NYSE:ORCL) crossed under its 10-day moving average of $46.05 on a volume of 3.5 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Oracle Corp has traded in a range of $37.62 to $57.06 and is now at $45.94, 22% above that low. The 200-day and 50-day moving averages have moved 0.2% lower and 0.98% lower over the past week, respectively.

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.

Keywords: moving crosses oracle corp

Ticker(s): ORCL