Oracle may rise to 164.40 - 170.70

Our pivot point is at 136.

Our preference

The upside prevails as long as 136 is support.

Alternative scenario

The downside breakout of 136 would call for 125.6 and 119.4.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 138.0385 and 126.8116).

Supports and resistances

176.8 **

170.7 *

164.4 **

158.2

144.83 (USD-last)

140

136 **

125.6 *

119.4 **

Number of asterisks represents the strength of support and resistance levels.