Company Overview: Oracle Corporation provides products and services that address enterprise information technology (IT) environments. The Company’s businesses include cloud and license, hardware, and services.
As per the previous report published on ORCL dated 16th June 2022, a ‘Buy’ stance was provided on the stock at USD 68.50 based on strong fundamentals, strong margin profile, strong liquidity, and valuation, and the stock price has now moved by ~ 16.09% since then and the price has now moved above resistance 1 and close to resistance 2.
Noted below are the details of support and resistance levels provided in our previous report:
ORCL’s Daily Chart
Considering the resistance levels, current trading levels, risks associated, long-term (200-day) SMA, and volatile market conditions on the back of rising interest rates, a ‘Sell’ rating is assigned to the “ORCL” at the closing market price of USD 79.52, as of August 16, 2022.
Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 16 June 2022. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.
Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’