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.
(Click on image to enlarge)
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