ORCL March 14, 24: Can the stock reach new ATH this time?
On March 13, 24,
ORCL
gap up after earnings on huge volume and is now trading at the area of the all-time high.
The stock has traded around this area in the past 2 times, during June, 2023 and September, 2023. Interestingly, the peaks of June and September were also around the earnings date.
The question now is can
ORCL
reach new ATH this time?
The trading idea is to buy the stock as it crosses up the high of March 13, 24 which is 130, and cut loss if it will go down below the resistance at 127.
Another trading idea is similar to what I wrote for
DELL
(see below in the related idea), which is wait for some days for a range to form and then trade that range.
Based on the actual situation that will occur we can execute our plan accordingly.
ORCL
gap up after earnings on huge volume and is now trading at the area of the all-time high. The stock has traded around this area in the past 2 times, during June, 2023 and September, 2023. Interestingly, the peaks of June and September were also around the earnings date.
The question now is can
ORCL
reach new ATH this time? The trading idea is to buy the stock as it crosses up the high of March 13, 24 which is 130, and cut loss if it will go down below the resistance at 127.
Another trading idea is similar to what I wrote for
DELL
(see below in the related idea), which is wait for some days for a range to form and then trade that range. Based on the actual situation that will occur we can execute our plan accordingly.
