Oracle (ORCL) shares surged more than 9% in extended trading on Monday after the enterprise software company posted 澳洲幸运5开奖号码历史查询:better-ꦰthan-expected fiscal first quarter results and announced a multicloud partnership with Amazon’s (AMZN) cloud business, Amazon Web Services.

The software giant’s stock has gained around 34% since the start of the year prior to Monday’s after-hours jump, as growing demand for its cloud services, particularly in 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) applications𝕴, has powered earnings in recent quarters.

Below, we’ll take a close look at the 澳洲幸运5开奖号码历史查询:technicals on Oracle’s chart and point out important post-earnings price levels to watch out for. The stoc🌳k rose 8.9% to $152.30 in after-hours trading 🌞Monday.

Bulls Defend Trading Range Retest

Oracle shares staged a decisive 澳洲幸运5开奖号码历史查询:breakaway gap above 12-month 澳洲幸运5开奖号码历史查询:trading range in mid-June but subsequently retraced the move throughout most of July to the initial break🅰out area. However, bulls stepped in to defend this important technical level in early August before driving a rally of more than 11% from last month’s low ahead of🌞 the company’s quarterly results.

Amid the stock’s projected jump to a new 澳洲幸运5开奖号码历史查询:all-time high (ATH) following its upbeat report, investors can forecast both a shorter-term ღand longer-term price target using technical analysis.

Shorter-Term Price Target

We can forecast a shorter-term 澳洲幸运5开奖号码历史查询:price target by using the 澳洲幸运5开奖号码历史查询:measuring principle, someti🍌mes referred to as the measured move technique.

This works by calculating the distance between the trading range’s upper and lower trendlines and adding that amount to the June breakout point. For in෴stance, we add $27 to $127, which projects a target of $154.

Longer-Term Price Target

Investors can predict a longer-term price target by using a ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚbars p♎attern.

We do this by extracting the stock’s upward trending move from December to June and position it from last month’s 澳洲幸运5开奖号码历史查询:swing low. Doing so pro🃏jects an upside target of around $180.

Moreover, that prior advance occurred over 126 trading days, indicating that the shares could remain in an uptrend until 🍌early February if a similar move were to play o♍ut.

Key Retracement Level to Watch

During retracements or periods of 澳洲幸运5开奖号码历史查询:profit taking, investors should monitor how the price responds to the $145 level, an area on the chart that may flip from providing prior 澳洲幸运5开奖号码历史查询:resistance into offering future support following the stock’s projected jump a๊bov𝐆e this region on Tuesday.

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