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Watch for Shares of Oracle (ORCL) to Approach Resistance at $35.01
[January 04, 2013]

Watch for Shares of Oracle (ORCL) to Approach Resistance at $35.01

Jan 04, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Oracle (NASDAQ:ORCL) have bullishly opened above the pivot of $34.40 today and have reached the first resistance level of $34.66. Should the shares continue to rise, the resistance pivots of $35.01 and $35.62 will be of interest.

In the past 52 weeks, shares of Oracle have traded between a low of $24.72 and a high of $36.50 and are now at $34.50, which is 40% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Potential upside of 7.3% exists for Oracle, based on a current level of $34.50 and analysts' average consensus price target of $37.01. The stock should discover initial support at its 50-day moving average (MA) of $31.71 and subsequent support at its 200-day MA of $30.15.

SmarTrend recommended that subscribers consider buying shares of Oracle on November 27th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.47. Since that recommendation, shares of Oracle have risen 9.0%. We continue to monitor ORCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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