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]
Source: https://www.fxstreet.com/news/oracle-orcl-bull-flag-breakout-signals-massive-gain-ahead-video-202410100523