The bullish DailyPlay we chose for Tuesday May 23rd is Oracle (ORCL). ORCL is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 4.72% move higher and its 1m and 6m trend has turned bullish on 4/20 while breaking above its $53.50 resistance level.
Oracle’s 1m and 6m trends turned neutral and bearish on 5/17 but recently bounced higher off its $44 support level which provides a good pullback for a long entry. With a technical score of 7 (out of 10), ORCL is a strong bullish stock that looks to continue higher.
As a stop loss, if ORCL was to trade below $44 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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