TMCnet News
Downgrade Alert for Oracle (ORCL)Mar 21, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Oracle (NASDAQ:ORCL) was downgraded from Overweight to Equal Weight at Evercore today. The stock closed yesterday at $35.76 on volume of 37.3 million shares, above average daily volume of 19.0 million. Oracle Corporation supplies software for enterprise information management. The Company offers databases and relational servers, application development and decision support tools, and enterprise business applications. Oracle's software runs on network computers, personal digital assistants, set-top devices, PCs, workstations, minicomputers, mainframes, and massively parallel computers. Oracle has overhead space with shares priced $35.76, or 5.5% below the average consensus analyst price target of $37.85. The stock should discover initial support at its 50-day moving average (MA) of $35.15 and subsequent support at its 200-day MA of $31.94. In the past 52 weeks, Oracle share prices have been bracketed by a low of $24.72 and a high of $36.50 and closed yesterday at $35.76, 45% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.4%. 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 13.7%. 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 [email protected] --------------------------------------------------------------------------------------------- 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 http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |