Oracle may rise to 164.10 - 170.50

Our pivot point stands at 133.9.

Our preference

The upside prevails as long as 133.9 is support.

Alternative scenario

The downside breakout of 133.9 would call for 123.6 and 117.4.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (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 128.0555 and 122.212).

Supports and resistances

176.7 **

170.5 *

164.1 **

157.8

142.91 (USD-last)

138

133.9 **

123.6 *

117.4 **

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