Watch These Oracle Price Levels as Stock Hits All-Time High on Cloud Business Optimism
The stock consolidated within a rectangle before staging a volume-backed breakout in Monday's trading session, signaling a continuation of the stock's strong uptrend.
A measured move, which calculates the distance of the impulsive move higher that preceded the rectangle and adds that amount to the pattern's breakout point, projects an upside target of $280.
Investors should watch key support levels on Oracle's chart around $203, $190 and $168.Oracle (ORCL) closed at a record high on Monday after CEO Safra Catz disclosed bullish new developments about the enterprise software giant's cloud business.
In a regulatory filing Monday with the Securities and Exchange Commission, Catz said the company's MultiCloud database revenue continues to grow at over 100%, adding that the company had signed multiple large cloud services agreements, including one that is expected to contribute more than $30 billion in annual revenue starting in FY28.
Oracle shares surged 56% in the second quarter and have gained 31% since the start of the year, due in part to bullish projections about the company's cloud infrastructure growth as companies ramp up AI spending. The stock rose 4% to $218.63 in Monday's session.
Below, we take a closer look at the technicals on Oracle's chart and identify key price levels to watch.
Oracle shares consolidated within a rectangle before staging a volume-backed breakout in Monday's trading session, signaling a continuation of the stock's strong uptrend.
Monday's jump coincided with the relative strength index finding support near the indicator's overbought threshold, highlighting the stock's recent bullish momentum, though the price did close toward the low of Monday's trading range.
It's also worth pointing out that the 50-day moving average (MA) crossed above the 200-day MA to form a golden cross, a chart signal that predicts the start of a new move higher.
Let's use technical analysis to project a potential upside target on Oracle's chart and also identify key support levels worth watching during potential profit-taking in the stock.
Investors can project an upside target in the stock by using the measured move technique, also known by chart watchers as the measuring principle.
When applying the method to Oracle's chart, we calculate the distance of the impulsive move higher that preceded the rectangle and add that amount to the pattern's breakout point. For instance, we add $63 to $217, which projects a target of $280.
The first lower level to watch sits around $203. A failed breakout attempt could see a retracement to this area, which may provide support near the rectangle pattern's lower trendline.
Further selling could trigger a fall to $190. The shares may attract buying interest in this location near the low of a breakaway gap in mid-June and several closely aligned peaks that formed on the chart between November and January.
Finally, a deeper correction in Oracle shares could see the price revisit lower support at $168. Investors may decide to place buy orders in this region near the golden cross pattern and a horizontal line that links a range of corresponding trading activity on the chart stretching back to last September.
The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.
As of the date this article was written, the author does not own any of the above securities.
Read the original article on Investopedia
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wall Street Journal
10 minutes ago
- Wall Street Journal
UBS to Pay $300 Million to Settle Credit Suisse Obligations Under DOJ Dea
UBS Group said it reached an agreement with the U.S. Justice Department to pay $300 million to resolve outstanding consumer-relief obligations Credit Suisse committed to. Swiss bank UBS, which in 2023 acquired Credit Suisse, said Monday that its Credit Suisse Securities (USA) LLC subsidiary entered into an agreement with the DOJ to resolve all outstanding obligations under a previous settlement. The obligations stem from a 2017 agreement between Credit Suisse and the DOJ related to the bank's legacy residential mortgage-backed securities business.
Forbes
10 minutes ago
- Forbes
No Friends In The Pipeline: Why 300,000 Black Women Were Pushed Out Of The Workforce
A recently published MSNBC article made headlines for a shocking stat: nearly 300,000 Black women have exited the American labor force in the last three months. The article attributes the mass exodus to reasons like federal job cuts and the dismantling of DEI programs, with issues like inflation, student loan debt, automation, and underrepresentation in growing tech sectors creating a compounded economic risk for Black women. This phenomenon not only hurts Black women but has a ripple effect for the entire U.S. economy, resulting in a loss in the country's gross domestic product (GDP). A less-discussed issue that must be considered is how what is happening is also the cause of a widening network gap faced by Black women. A 2019 article from LinkedIn's Vice President of Social Impact, Meg Garlinghouse, explored the network gap: the unequal access a person has to opportunities based on who they know. Garlinghouse's article cited research that indicates that 70% of professionals get hired at jobs where they know someone who works there. A 2020 study by Chika O. Okafor indicated that non-white job candidates get fewer jobs through referrals because their social network is smaller. With the anti-DEI legislation and a wave of corporate DEI rollbacks, many companies have deprioritized DEI, dismantling programs and initiatives like employee resource groups (ERGs), which provide key opportunities to boost one's professional network. According to Catalyst, ERGs can be thought of as 'voluntary, employee-led groups that foster inclusive work environments aligned with business values, goals, and objectives.' Often ERGs focus on a shared identity (race, religion, being a parent, LGBTQIA+ status, etc.). ERGs provide employees with pathways to network, connect across departments, find mentors, and build relationships but many organizations are quietly shuttering their ERGs amid growing anti-DEI sentiments. Having less opportunities to be in community with employees at different levels in an organization can exacerbate the network gap that Black women face. Mentorship and sponsorship programs, which are often perceived to be DEI or DEI-adjacent, may be halted in the current climate, even though these programs can play an instrumental role in employees' careers, and Black women's career advancement. A wealth of research indicates that Black women leading Fortune 500 companies, as well as those in education, medicine, and tech, routinely report feelings of both hypervisibility and invisibility. Organizational psychologist Dr. Kecia M. Thomas has highlighted the pet to threat concept in her research: the phenomenon in Black women's career trajectories where they go from being the 'pet,' where they are well-liked and celebrated but exploited, to being the 'threat,' where they are seen as posing a risk to the status quo. A 2023 report from Exhale indicated that 36% of Black women have exited a job because they felt unsafe. Black women face a slew of inequities in the workplace and must deal with issues of gendered racism and the angry Black woman stereotype. A 2024 Harvard study also found evidence that when Black women have a higher percentage of white team members, they are more likely to leave their job and less likely to be promoted, revealing the systemic inequities that are entrenched in the workplace. The rise of AI may be making the problem worse. Many of the AI tools that companies lean on to help with hiring decisions may exacerbate existing biases, contributing to hiring gaps when it comes to Black women. Black women are overrepresented in jobs roles that are vulnerable to AI and automation, explained executive leadership coach Margaret Spence in a LinkedIn article. These factors in conjunction with the dismantling of corporate DEI programs makes building and sustaining professional networks for Black women more challenging. What can organizations do to address this issue? First off, workplaces should be intentional about providing employees with opportunities to network with each other. Do you have active mentorship and sponsorship programs in place? If not, how can you get them started? Ensure that equity is foundational in your workplace; frequently audit company policies and practices to ensure fairness and disaggregate employee feedback from anonymous channels, focus groups, and surveys to better understand Black women's experiences. What are Black women saying when they leave your organization? Assess exit interview data to see if patterns are emerging from the Black women who have left. The current anti-DEI legislation was implemented to sow fear and confusion in the workplace. Be aware of the ever-changing laws and stay up to date on local legislation. Consult with legal counsel to better understand what DEI practices are legal. Despite popular misconceptions, there are still many ways to drive fairness and equity while complying with state and federal laws. For Black women, there are some ways to address the network gap. Building community intentionally is vital. Consider joining different community groups, whether in-person or virtually, that align with your goals. This could be an online community for Black women in law, for example, or a meetup group for Black women in cybersecurity. If the community you are seeking doesn't exist, think about ways to create it. Also consider intentional networking on LinkedIn. Many see the platform as a place to go only when job searching but it can also be a great place to build networks, find your people and directly engage with community members. Black women's mass exodus from the U.S. labor market is caused by several different factors. While some reasons, like the DEI rollbacks and federal job cuts, are more obvious, there are issues that are more insidious at play. It's important that we understand what the antecedents are and put measures in place to ensure that Black women are given the support that is needed to thrive. When Black women are given the tools to succeed, everyone across the board will benefit.
Bloomberg
10 minutes ago
- Bloomberg
UBS Settles Credit Suisse Mortgage-Bond Case for $300 Million
UBS Group AG said it has reached an agreement with the US Department of Justice to resolve a legacy Credit Suisse matter related to the former bank's role in selling residential mortgage-backed securities in the US. 'On 1 August 2025, Credit Suisse Securities (USA) LLC entered into an agreement with the DOJ to resolve all of Credit Suisse's outstanding Consumer Relief Obligations under the 2017 settlement by paying $300 million,' the bank said in a statement on Monday.
