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Oracle (ORCL) has rallied 29% week to date; we clearly missed the low.
Oracle shares have formed a strong bottom at the $135 level after a steep decline.
KEY POINTS
- The recent rally pushed Oracle above its 50-day moving average with strong volume confirmation.
- A bullish RSI divergence preceded Oracle's reversal, signaling a potential trend change.
- Oracle's 200-week moving average has remained intact, reinforcing a solid long-term support floor.
- A significant MACD buy signal has appeared for Oracle, supporting a favorable long-term risk/reward.
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