The post Will ORCL Stock Price Hold $100? appeared on BitcoinEthereumNews.com.

Oracle stock price (NYSE: ORCL) is in a correction phase and forming a bearish pattern. It faced rejection from the $115.00 level and began to decline by forming lower low swings.  ORCL stock price failed to climb above the 50-day EMA indicating how the short-term trend remains down. Recently, it also slipped below the 200-day EMA which further raised concerns for long-term investors.  At present, the ORCL shares are near its previous breakout level at $100.00 which is acting as a support. It will be interesting to see whether the buyers can defend the support or not.  In the last two months, buyers tried twice to push the price above the 50-day EMA. However, due to the strong presence of sellers, the pullback rallies were sold off.  Oracle stock price had completely eroded the gains generated in June 2023 and lost a big portion of its market capitalization.  The price pattern of the stock is highly bearish and sellers look more active as compared to buyers. Therefore, investors need to be careful because it will be difficult for bulls to defend $100.  Oracle Corporation stock price closed the previous session at $101.65 with an intraday gain of 0.65%. Sellers Look More Aggressive in Oracle Stock Price  Oracle stock price is inside the bears’ grip and no signs of recovery or reversal are visible. The share price has not performed well in the last few months and traded with a bearish bias.  Meanwhile, the technology sector stocks and broader market indices are in a downtrend. Hence, it is negatively impacting ORCL shares. If the stock price drops below $100, then the next round of sell-off will begin.  The technical analysis suggests that sellers look more aggressive in ORCL stock so the possibility of a $100 breakdown is high. Will the Sell-Off…

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Filed under: News - @ October 31, 2023 8:12 pm