Promising Technical Setup For ORCL

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By Mike Paulenoff | Published 02/1/2012 | Stocks | Unrated

Promising Technical Setup For ORCL

For nearly two weeks, Oracle (ORCL) has been consolidating its post-earnings gains from 24.91 to 28.95, which has taken the form of a high-level bullish coil pattern that should be preparing to thrust to the upside towards a next optimal target zone of 29.40/60.

At this juncture, only a decline that breaks 28.00-27.95 will wreck the promising near-term technical set-up.

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.

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