Oracle’s stock price extended its gains in latest intraday trading, piercing the pivotal resistance of 198.30, accompanied by a surge in trading volumes, with the dominance of the main upward trend as the price trades alongside the secondary upward trend line, while boosted by trading above the 50-candle SMA, but countered with negative signals streaming out of the Stochastic after reaching overbought levels, hindering upcoming gains.

 

Therefore we expect more gains for the price as long as it settles above $198.30, targeting the next resistance at $246.70.

 

Today’s trading range: Bullish