Promising Technical Set-Up for ORCL

Mid-Day Minute for Wed February 1st 2012
by Mike Paulenoff, www.MPTrader.com

Be alerted when Mike posts an article

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 author of MPTrader.com (www.mptrader.com), a real-time diary of his technical analysis and trading alerts on ETFs covering metals, energy, equity indices, currencies, Treasuries, and specific industries and international regions. Sign up for a Free 15-day trial to Mike's ETF & Stock Trading Diary.

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