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Oracle Corporation (ORCL) “On a long-term technical basis, the stock (ORCL) is trading below its 200-day moving average which implies it is in a negative trend.
The stock has support at 52.55 and 47.35. If the stock breaks down through support at 52.55 then it will probably continue lower to 47.35. The stock has resistance at 53.24 and at 56.66. If the stock breaks up through resistance at 53.24 then it will probably continue higher to 56.66. The 200-day moving average is at 53.24. This will also act as resistance. The stock has broken out of its long-term downtrend and is looking more positive recently. If the stock can form new support above 52.55 look for a rally to previous highs. The stock is neutral according to the Stochastic Indicator (46.25).”
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