Ming Jong Tey
Independent Analyst
Oracle has shown impressive movement following a breakout from its recent accumulation structure. Here's what traders need to know:
-
Accumulation structure: Oracle formed a strong accumulation base, despite gaps during earnings.
-
Bull flag formation: After a sign of strength rally, a bullish flag pattern emerged, indicating possible continuation upward.
-
Key level to watch: A breakout above the $171 level will confirm this move, with potential gains ahead.
-
Stop-loss strategy: Traders should consider placing stops near the swing low around $165.
Trading plan for Oracle (ORCL) stock [Video]
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
How will US Dollar react to September inflation data? – LIVE
September Consumer Price Index (CPI) data from the US is set to ramp up the market volatility in the American session. Investors see virtually no chance of a 50 bps Fed rate cut in November but a strong inflation report could alter expectations.
EUR/USD stays weak below 1.0950 ahead of US CPI
EUR/USD maintains its offered tone and trades below 1.0950 after ECB Accounts failed to trigger a reaction on Thursday. Markets remain cautious and refrain from placing any fresh bets on the pair ahead of the US CPI report.
GBP/USD trades with caution below 1.3100, awaits US CPI
GBP/USD treads water below 1.3100 in the European trading hours on Thursday. The pair is unable to benefit from a pause in the US Dollar uptrend amid a tepid risk tone ahead of the key US CPI inflation data release.
Gold price bulls seem non committed as focus remains glued to US CPI report
Gold price attracts some buyers on Thursday and for now, seems to have snapped a six-day losing streak to a nearly three-week low, around the $2,605-2,604 area tested the previous day.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.