Swing Trading Strategies & Stock Picks Since 2003

Stock of the Day – Oracle Corporation (ORCL)

Close – $21.63

Strategy – Short

Profit booking – $18.8 - $19.8

Stop Loss – $23

MACD – 0.39

RSI – 58.36

The stock has strong resistance zone in $22.6 - $23.6 range. One could consider taking a short position in the stock in that range. There is a high probability that the stock may touch the $18.8-$19.8 range, when one could consider taking profits. For almost 2 years the stock has not broken the $23 resistance range. One can expect weakness in the stock in coming few days, as it enters the resistance zone of $22-$23.