ORCL - A mishmash of contradictions
Oracle seems to be flashing both bullish and bearish signals at the same time. On the one hand, Oracle is a fundamentally strong company and is being supported by unusual bullish option flows within the year.
On the other hand, some of the technicals (see chart) show extremely bearish outlook -
1. Price is below every major EMA (20, 50, 100, 200)
2. MACD is still below the zero line and has rolled over again.
3. Heavy selling volumes into the decline.
Wait, but even the technicals are not as clear -
1. RSI is around 27, which is oversold.
2. Price is sitting around the strong support of $115
The failed rally followed by distribution suggests a bearish outlook, the fundamentals, the institutional bets and rsi suggests a base of forming.
Ths one has me confused if there even is a point in looking at ORCL.
Those who hold the stock or are planning to enter, what's your thesis? Am I overthinking this one?
