Oracle’s Q2 Earnings: Strong Chart Signals, But Watch the RSI – Oracle (NYSE:ORCL)

Oracle Corp ORCL will report its second-quarter results on Monday. Wall Street expects earnings per share of $1.48 and revenue of $14.12 billion, the company reported after-hours.

The stock is up 66.50% over the past year and 53.97% over the past six months.

Let’s look at what the charts show for Oracle stock and how the stock currently compares to Wall Street estimates.

Also Read: Oracle Prepares for Q2 Pressure; Here are the latest forecast changes from Wall Street’s most accurate analysts

Oracle stock is on a strong upward wave ahead of second-quarter earnings, with the stock trading above its 5-, 20- and 50-day exponential moving averages – a signal of continued buying pressure.

Chart created with Benzinga Pro

The 8-day simple moving average (SMA) at $186.31, the 20-day SMA at $187.90 and the 50-day SMA at $179.53 position the ORCL stock price at $192.54 amid bullish signals.

Additionally, the Moving Average Convergence/Divergence (MACD) indicator at 2.87 underlines the momentum in favor of further upward movement. However, with the Relative Strength Index (RSI) rising at 61.09, the stock is approaching overbought territory, suggesting traders may want to be cautious when monitoring post-earnings volatility.

Reviews and Consensus Estimates: The consensus analyst rating for Oracle stock is currently “Buy” with a price target of $170.67. Current analyst ratings from RBC Capital, Guggenheim and Jefferies have an average price target of $201.67.

ORCL Price promotion: Oracle shares were trading at $189.60 at the time of publication on Monday.

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