Resistance

Time

<ul class="list-ic vertical">
 <li><span>1</span> <a>Oracle stock price trading below key moving averages showcasing bearishness on the daily chart.</a></li>
 <li><span>2</span> <a>ORCL stock price is in bear’s grip witnessing correction moves.</a></li>
</ul>
<p>Oracle stock price has been on a downtrend for the past four weeks, as it faced resistance from the higher levels and formed lower lows. This shows that the bears have been in control and the stock lost momentum. The stock broke below the key moving averages, indicating further weakness.</p>
<p>The stock has created a bearish pattern and lost the gains it made in the previous months. Oracle’s (NYSE: ORCL)&nbsp; technical analysis suggests that the stock is bearish and could bounce back from the 200-EMA. However, the stock needs to show signs of strength and reversal before confirming a pullback rally.</p>
<p>Oracle share (NYSE: ORCL) price is in a correction phase but trading near crucial support levels. It formed a bearish candle indicating that sellers are active and will try their best to push the stock price downwards. ORCL stock price closed the previous session at $00 with an intraday rise of 109.11%.</p>
<p>If the buyers succeed in defending the current support then the possibility of a bounce back will increase. However, if the sell-off continues and Oracle stock drops below lower levels more downfall is possible.</p>
<p>Buyers tried multiple times to break the higher range and expand upward. However, due to the strong presence of sellers, prices faced rejection. It shows sellers are still active on higher levels.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-of-oracle-stock-price-in-1-d-time-frame-strong"><strong>Technical Analysis of Oracle Stock Price in 1-D Time Frame</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh6.googleusercontent.com/fUffTo7xBg9qzQBZZFqZExD025-nAF_SFn3vanXKCOsWbnOQ72fmlOmo1YSvCTT8LmzFXKX1fs7jKK2VlR_sX1V1R01TK1xu1jTCKCxqti1GA_E1LZeVJCHlBsThdIQ_yomgp7k9LHhm3o062TwNzNY" alt="Oracle Stock: Will ORCL Stock Break Below the 200-Day EMA?">
  <figcaption class="wp-element-caption">
   Source: Oracle.1D.NYSE by <a href="https://www.tradingview.com/x/H58rDJ0T/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>Oracle price is below the downward-sloping 50-day and 100-day EMAs showcasing&nbsp; bearishness. However, the Oracle price might bounce back in upcoming sessions.</p>
<p>The current value of RSI is 45.49 points. The 14 SMA is below the median line at 39.80 points which indicates that the Oracle stock is bearish. MACD generated a positive crossover and the histogram is green indicating <a href="https://www.thecoinrepublic.com/2023/10/11/oracle-stock-analysis-has-orcl-stock-entered-a-correction-phase/" rel="noopener noreferrer nofollow">bullishness</a> and strength.</p>
<h2 class="wp-block-heading" id="strong-weekly-time-horizon-analysis-of-orcl-stock-strong"><strong>Weekly-Time Horizon Analysis of ORCL Stock</strong></h2>
<p>Oracle stock has shown sellers’ strength on the weekly charts. Moreover, the price is above the key EMAs, which shows further strength in the stock. The RSI curve is near the neutral region at 50.28 heading downward, and a negative outlook was noted, indicating bearishness in the stock. The MACD persisted to form red bars, and a bearish crossover was noted, which signals corrective moves.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>Oracle (NYSE: ORCL) technical oscillators also support the mild bearish moves. The MACD, RSI, and EMAs are emphasizing mild bearish signs and imply that the small correction in the ORCL stock price. Oracle price action suggests that the investors and traders are neutral on the 1-day time frame.</p>
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3>
<p>Support Levels: $103.63 and $97.31</p>
<p>Resistance Levels: $127.46 and $130.00</p>
<h3 class="wp-block-heading" id="strong-disclaimer-strong"><strong>Disclaimer</strong></h3>
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

Oracle Stock: Will ORCL Stock Break Below the 200-Day EMA?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 13, 2023

SNK Announces Ambitious “SNK Universe Project” to Expand IP Reach

Livepeer (LPT) Price Prediction 2024, 2025, 2030, 2040, and 2050

NvirWorld, ICP sign MOU for launching web3 gaming launchpad

BREAKING: SEC Won't Appeal Decision in Grayscale's Spot Bitcoin ETF Case: Bitcoin is on the Move!

Stake.us Exclusive No Deposit Bonus Codes 2023: Free Money, Promo Codes & 5% Rakeback Offer

Ethereum Chart Analysis: Key Levels to Watch

Join our free newsletter for daily crypto updates!