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Looks like a bottom has been hit. The gap will probably offer some resistance but I think ORCL will break through it. The bottoms have been rising for some time now, that's usually a bullish sign. I think a buy at these levels with a sell around 35.50 would be a good trade. Not much else to say, hypothetical trade below.
Entry: 31.95 (Now)
TP: 35.00, 35.50 (Under the top of the gap or under the old high)
SL: 31.00 (Under the current bottom)
A case could be made for holding to 36.00 or higher but I think 35.00 is a safer target. Not a bad trade, a dollar in risk and three in potential profit.
If you have a stock you want analyzed leave it in the comments.
Do your own research before taking any position. I don't have a position in ORCL nor will I be taking one in the next 72 hours.
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