Oracle $ORCL Stock Gets Slammed, Know This Trade Level

This morning, shares of Oracle Corp (NASDAQ:ORCL) are falling lower by more than 7.0 percent to $42.87 a share. The decline comes as the business software giant gave an outlook below forecast. The stock is now nearing its 200-week moving average which should serve as short term support. A close below this key area will likely indicate another move lower for the stock. The next major support level for ORCL will be around the $40.00 level. This is where the stock broke out in February 2017. Very often, when a stock retests a prior breakout level it will be defended by the institutional money. ORCL will be on my radar around this key support area.





Nicholas Santiago
InTheMoneyStocks