ORCL Watch

The big-guys software company Oracle Corp. (ORCL) snuck back above the 200-day exponential moving average, with bull signals galore. All that's lacking is the volume, which far from spiking, is stairstepping down.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
ORCL $24.51

Person's Proprietary Signal, the parabolic sar and the macd all three moved to bull phase today. The fast stochastic moved above the 80-line, showing the strength of the rise.

The morning had no promise of glory; the stock opened 2¢ below Tuesday's open but followed through with a 1.2% intra-day rise.

The only headline today has billionaires pledging their fortunes to charity, including Oracle Chairman Larry Ellison. Now it good be that traders, being a sentimental lot always willing to latch on to a good story, are rewarding Oracle for its chairman's generosity. Or not.

On the Person's chart, ORCL is trading above this week's midline, at $23.91, and is within striking distance of the weekly upper pivot at $25.19.

Person's Table

	pps	pps open	upper pivot	lower pivot
ORCL $24.51		$24.29 aug4	$25.19 +2.8%	$23.13 -5.6%

In the near term ORCL bottomed at $21.24 and from there has begun an undulating rise. Today's high, $24.59 (so far), falls short of the most recent higher high of $24.67. So that's not a confidence builder.

Also, this is the second time in a few weeks that ORCL has banged past the 200-day ma. The first time, it pulled back with a four-day bearish whipsaw on the signals. Only a volume spike on an intraday rise, or a price push past $24.67 that persisted above that level, would convince me that ORCL is truly undertaking a serious uptrend.

The very broad pictures is that of a recovery from the tech collapse, beginning in 2002. That long-term uptrend remains in force.

Reversal Levels

• $26.63, +8.7%
• $24.67, +0.7%
• $24.51 <== You are here.
• $23.40, -4.5%

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Disclaimer

Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

Abbreviations:

• psar - Parabolic Stop and Reverse
• adx - Average Directional Index
• pps - Person's Proprietary Signal
• ma20 - 20-day moving average
• macd - Moving Average Convergence-Divergence
• sto - Fast Stochastic

About the glance: The colors indicate the state of each signal.

• trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
• adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
• psar, pps, macd: green for bull mode, red for bear
• sto: green for overbought, red for oversold, yellow for the neutral zone.