Oracle may rise to 160.50 - 166.50

Our pivot point is at 131.

Our preference

The upside prevails as long as 131 is support.

Alternative scenario

The downside breakout of 131 would call for 121.1 and 115.3.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 124.4465 and 120.8056). Finally, Oracle has crossed above its upper daily Bollinger band (136.23).

Supports and resistances

172.4 **

166.5 *

160.5 **

154.5

139.85 (USD-last)

134.9

131 **

121.1 *

115.3 **

Number of asterisks represents the strength of support and resistance levels.