Oracle quotes continue to move within the framework of strong growth and a bullish channel. Moving averages indicate the presence of a short-term upward trend in ORCL. Prices broke through the area between the signal lines up, which indicates pressure from sellers of securities. At the time of publication of the forecast, the price of Oracle shares is 86.37. Within the framework of the forecast of the ORCL stock price, we should expect an attempt to develop a correction and a test of the support level near the area of 81.05. Next, a rebound up and a continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 100.55.
An additional signal in favor of the rise of ORCL quotes will be a test of the support line on the relative strength indicator (RSI), as we can see, now the values are testing the resistance line, there is a risk of a correction. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the option of growth in the quotations of the value of Oracle shares will be a fall and a breakdown of the level of 75.55. This will indicate a breakdown of the support area, as well as the lower border of the channel and the continuation of the fall to the area at the level of 65.55. We should expect an acceleration of the stock's rise with a breakdown of the resistance area and a close above the level of 89.55.
Oracle shares forecast for July and August 2021
Thus, the Oracle Stock forecast for July and August 2021 suggests the development of a correction and a test of the support area near the level of 81.05. From where we should expect a rebound and an attempt to continue the stock's rise to the area above the level of 100.55. The trend line test on the relative strength indicator will be in favor of the growth of securities. The cancellation of the ORCL rise option will be a drop and a breakdown of the 75.55 level. This will indicate a breakdown of support and a continuation of the fall in the price to the area below the level of 65.55. As you can see, the technical analysis of Oracle shares indicates the probability of a correction, but conservative purchases of securities should be considered near the lower border of the ascending channel.