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 cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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

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