DTT Buzz

Exclusive Market Analysis, Alerts and Commentary from the DaytradeTeam trading staff

Monday, March 24, 2008

Rounded Bottom Break in Oracle Corporation (NASDAQ:ORCL)



From the beginning of December 2007 until the end of February Oracle Corporation (NASDAQ:ORCL) was downtrending. After breaking its downtrend ORCL created a rounded bottom reversal; yesterday ORCL broke the rounded bottom lip @ 20.50. This lip break in ORCL indicates it will continue to see another 10% of upside action over the coming weeks. Knowing this, you could buy some call options, a bullish vertical debit spread, or just go long the stock.

Happy Trading

Keith Greff Jr
Trade Analyst
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