ORACLE Channel Up targeting $200.

Oracle (ORCL) broke above its previous High last week and even though the current one is under a certain degree of volatility (reasonable due to the Fed), this confirmed the upward continuation of the trend.

Technically, the stock has been trading within a long-term Channel Up since the September 2022 market bottom and after a prolonged test this year of the 1W MA50 (blue trend-line) as Support, it has started the new Bullish Leg with the current phase being the last one.

An ideal 1W RSI symmetry suggests that we might be printing a sequence similar to March - June 2023, which peaked after a +110% rise from its bottom.

As a result, we remain bullish on Oracle, targeting $200.00 by the end of the year.

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