Don't Ignore This Chart!

Fresh All-Time High For ORCL After Latest Earnings

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Oracle Corp (ORCL) needed a solid earnings report last night after the closing bell to reach all-time highs and it delivered exactly that.  ORCL posted both top line and bottom line (.63 vs .57) results that exceeded Wall Street consensus estimates and this morning's open cleared price resistance to soar into "blue sky" territory.  Prior highs were reached at the end of 2014.  Check out today's gains:

ORCL's momentum clearly began 4-5 weeks ago as we saw the MACD make a bullish centerline crossover.  That was accompanied by a break of its two year downtrend.  Last night's big earnings report and today's breakout is simply the culmination of what the market began expecting as we moved into 2017.  Key price support now resides at 44.50-45.00 on any pullback.

Happy trading!

Tom

Tom Bowley
About the author: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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