Oracle Corp (NYSE:ORCL) shares are climbing Thursday, extending a rebound off recent lows as part of a volatile last few months that has yet to resolve into a clean recovery. Here’s what you should know.
- Oracle stock is among today’s top performers. Why are ORCL shares rallying?
Oracle Sees Increased Volatility In Recent Months
Oracle’s chart over the past three months tells the story of a stock caught in a series of sharp swings rather than a steady trend in either direction. Shares were trading around $172 in mid-June before tumbling to roughly $115 by late July, a decline of about 32% in just over a month.
From there, Oracle staged a strong recovery through August and into early September, a move that likely reflected the company’s fiscal first-quarter results, which included record revenue of $19.3 billion. The stock then reversed again, falling to around $140 by mid-September.
Today’s roughly 5% gain represents the latest leg of that pattern, a sharp bounce off the recent lows. The move comes amid a broadly risk-on session, with the Technology sector leading the market higher, up 2.31% today.
Despite today’s strength, Oracle’s technical picture remains mixed over the longer term. The stock has reclaimed its 50-day moving average but remains well below both its 100-day and 200-day averages. Oracle looks like a stock still working through repair rather than a confirmed recovery, with sharp swings occurring inside a longer-term bearish structure.
ORCL Shares Are Jumping
ORCL Price Action: Oracle shares were up 4.30% at $159.32 at the time of publication on Thursday, according to Benzinga Pro.
Image: Grand Warszawski/Shutterstock
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