Feb 07

Oracle Chart Foretells Continued Downside Pressure

Oracle Corp. (Nasdaq: ORCL) peaked well before the NDX in general (1/16), and has been stair-stepping to the downside from 19.75 to the 17 area (-14%), and still shows no signs of an impending upside pivot reversal. If anything, ORCL looks like it could accelerate to the downside for a full-fledged test of is rising 200 DMA, now at 16.33.
Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!