Key Takeouts:
Oracle shares surged on Thursday after the company exceeded Wall Street’s expectations with strong quarterly results and a positive sales outlook, primarily driven by its cloud infrastructure segment. The stock jumped 13%, closing just under $200, and has risen nearly 70% since April, outperforming the S&P 500.
Technical analysis indicates that the stock may reach a price target of $275 by mid-December. A significant breakaway gap in trading volume signals upward momentum. The Bar Pattern tool suggests this trend could mirror previous movements following last year’s similar quarterly report.
Key support levels to watch include an initial level at $180 and a more critical point at around $154, which could attract buying opportunities if tested.
