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Next Resistance Level for Oracle Corp (ORCL) is $61.11

Oct 16, 2020 (SmarTrend(R) News Watch via COMTEX) --
Oracle Corp (NYSE:ORCL) has opened bullishly above the pivot of $60.45 today and has reached the first level of resistance at $60.81. Should the shares continue to rise, the resistance pivots of $61.11 and $61.77 will be of interest.

Based on a current price of $60.70, Oracle Corp is currently 6.3% above its average consensus analyst price target of $56.87. The stock should discover initial support at its 50-day moving average (MA) of $58.00 and subsequent support at its 200-day MA of $54.20.

In the past 52 weeks, shares of Oracle Corp have traded between a low of $37.62 and a high of $62.60 and are now at $60.70, which is 61% above that low price. The 200-day and 50-day moving averages have moved 0.29% higher and 0.73% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Oracle Corp on March 26th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.47. Since that recommendation, shares of Oracle Corp have risen 24.9%. We continue to monitor ORCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to SmarTrend at cs@mysmartrend.com

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