Watch These Oracle Price Levels as Stock Surges 30% on Boosted Sales Outlook
Key Takeaways
- Oracle shares soared more than 30% in premarket trading Wednesday after the computing giant raised its outlook for cloud infrastructure sales and said it added several large new customers amid booming AI demand.
- The stock looks set to break out from a flag pattern to a fresh record high on Wednesday, laying the groundwork for a continuation of the longer-term uptrend.
- The measured move technique projects an upside target of $384. Investors should also watch critical support levels on Oracle’s chart around $261 and $198.
Oracle (ORCL) shares soared Wednesday morning after the computing giant raised its outlook for cloud infrastructure sales and said it added several large new customers amid booming AI demand.
The…
