New Technical Target for ORCL

By Sam Collins,

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Oracle Corp. (NASDAQ: ORCL) - This well-known enterprise software company broke from a double-top in September to a new two-year high. The breakout was supported by very high volume and is a strong signal that even higher prices are in its future.

The acquisition of Sun Microsystems has "transformed ORCL into a software and systems vendor," according to S&P, which currently rates the stock a "five-star strong buy" with a fundamental price target of $37.

ORCL was one of my top stock picks for January, and is still a good buy. The recent break to over $32, after partially closing a gap, confirms that the uptrend is intact. The trading target for ORCL is raised from $35 to $38.

Trade of the Day - ORCL Stock Chart

Trade of the Day Chart Key

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Stocks
Referenced Stocks: ORCL

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