Swing Trade Idea (ORCL) – June 22, 2021
Our Bullish trade for Tuesday, June 22nd is ORCL (Oracle Corp). ORCL is part of the Technology Sector (XLK). XLK has experienced a 4.7% gain in the last month as price recovers after selling off during May. Both 1M and 6M trends are bullish.
ORCL declined to an area of support after announcing earnings and has since reversed higher to provide a good risk/reward bullish trade. With a technical score of 7 (out of 10), ORCL is a strong stock that will likely move higher.
As a stop loss, if ORCL were to trade below $76.00 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $3.30.
