In this video I explain why I think 
ORCL could see more downside before becoming a great long term buying opportunity. The first level I'm watching is $118.65, which is the low of a blue doji candle that I believe is likely to get revisited. I also go over prior examples on 
NVDA, 
QQQ, and 
GOOGL, where price revisited the low of a blue doji before pushing to new highs, and I'm expecting no different here.
Personally, I won't be buying any shares unlessORCL drops to $118.65. My ultimate buy level is $99.87, which is the major support level just beneath that doji low. If we see a break below the strong $135.57 support, I think selling pressure could accelerate again and send price down toward those lower buy levels.
This is strictly a long term investment idea purchasing shares only, no day trades or options. My long term price target is $346.06, the all-time high. From the ideal buy level of $99.87 back to $346.06 would be just under a 250% return on the share price, and potentially 500%+ on the leveraged ticker
ORCX, which is what I plan on purchasing.
ORCL could see more downside before becoming a great long term buying opportunity. The first level I'm watching is $118.65, which is the low of a blue doji candle that I believe is likely to get revisited. I also go over prior examples on NVDA, QQQ, and GOOGL, where price revisited the low of a blue doji before pushing to new highs, and I'm expecting no different here.Personally, I won't be buying any shares unless
ORCL drops to $118.65. My ultimate buy level is $99.87, which is the major support level just beneath that doji low. If we see a break below the strong $135.57 support, I think selling pressure could accelerate again and send price down toward those lower buy levels.This is strictly a long term investment idea purchasing shares only, no day trades or options. My long term price target is $346.06, the all-time high. From the ideal buy level of $99.87 back to $346.06 would be just under a 250% return on the share price, and potentially 500%+ on the leveraged ticker
ORCX, which is what I plan on purchasing.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.