However, one big tech name has been bucking the tech down trend over the last few months, and that's Oracle.
Although Oracle isn’t the best trading stock, it certainly is on a lot of investors list of “to-dos”.
The company: Oracle Corporation
Ticker Symbol: (NYSE: ORCL)
Industry: Application Software
Oracle Corporation develops, manufactures, markets, hosts, and supports database and middleware software, applications software, and hardware systems.
The company also provides customers with rights to unspecified software product upgrades and maintenance releases; patches released; Internet access to technical content; and Internet and telephone access to technical support personnel.
Please take a look at the 1-year chart of Oracle below with added notations:
Oracle’s chart is one of the easiest breakdowns highlighted in the Five Star Stock Watch series recently.
The uptrending channel that Oracle is in makes the trading decisions somewhat easy, as long as one is patient.
Buy on a pullback to the channel support. Short the stock on a break out of that channel. That’s it.
The stock closed yesterday at 41.21.
Oracle isn't set to release earnings again until June, 2014.
No matter what your strategy, or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key.
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