Oracle Corporation’s stock (ORCL) rose mildly in the intraday levels, while recouping some recent losses and venting off oversold saturation in the RSI as positive signals start coming out of them.

The stock is facing negative pressure by trading below the 50-day SMA, while hurt by piercing the upward secondary trend line in the short term.

Therefore we expect the stock to return lower, targeting the support of $111.60, provided it settles firmly below $117.70. 

Trend forecast: Likely Bearish