.

  • Swing Trade Idea (ORCL) – October 17, 2023

    Oct 17, 2023 Swing Options Tips Comments Off on Swing Trade Idea (ORCL) – October 17, 2023

    Our bearish trade for Tuesday, October 17th is Oracle Corp. (ORCL). ORCL is part of the Technology Sector, which has performed at 0.80% over the last month, with ORCL underperforming at -4.57% over the same period.

    ORCL is pulling back from an all-time high price and recently made a higher low in this trade channel. As it is still considered to be overbought, we believe that ORCL can continue this trend, with the next area of support at $100. 

    As a close, if ORCL were to trade above $112 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We also will consider cutting losses on this options trade if the value of the vertical spread moves below $1.24 Credit.

0 comment
Top