ORCL was under close observation last days. the fall from April top was a impulse wave either wave A or wave 1, after that the stock moved sideway forming a correction wave (flat wave) as a B wave or 2 wave, what the next step is forming a decline movement as a wave C or 3, that was by using a elliott wave principles.
Technically, ORCL in resistance area which was a support in FEB, is same area where 38.2% Fibonacci retracement located, that give a good position to consider a resistance.
By using a candlesticks , the stock show a indecision trading when forming a small body candles. Shorting stock or buying a put option is the plan to trade with stoploss above 23.7$
good luck
15 Jul.
Although the stoploss was activated, still the opinion about ORCL is bearish. I am waiting another signal to short it.
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