Could Oracle Corp. (ORCL Stock) rise above the 70 level?

AAATrade Team AAATrade

Today’s instrument is the Oracle Corp. stock traded on the NYSE exchange under the ticker ORCL.

Looking at the ORCL’s chart, we can see last week it popped from around $64 to around $73.20 due to better than expected quarterly earnings but currently it is trading at around $67.65.

Its support level is located at around $66.80 and its strong support level is located at around $65 whereas its strong resistance level is located at around $73.20.

Today if it manages to hold its price above the support level of around $66.80, then we could expect it to rise above the physiological level of $70 otherwise it should test the level of $65.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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