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Oracle’s stock is currently trading at 51.93-lower by 4.91% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 2.93%. The stock has continued falling after the opening bell.
The company reported its fiscal fourth-quarter earnings after the market close on Tuesday. Oracle generated an adjusted EPS of $1.20 for the fourth quarter. The EPS was above the market expectation of $1.15. The business software giant brought in $10.44 billion in revenue for the quarter ended 31st May. The revenue was, however, below the consensus estimates of $10.65 billion.
Oracle’s Q4 revenue missed market expectations as key customers in markets postponed spending amid the coronavirus pandemic. The business software giant’s largest category, cloud services, and license support posted $6.85 billion in revenue below the market expectation of $6.90 billion. Oracle expects adjusted EPS of $0.84 to $0.88 for the current quarter. The markets expected $0.85 in adjusted EPS for the quarter. Stocks of Oracle have fallen around 1% so far in 2020.
On the technical front, the current price is below the MA5. The current price is below the middle line of the Bollinger Bands and is heading downwards. The RSI is currently at 45.94% and suggests that the market can move in the downward direction.
Overall Bias is Negative and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.
TRADE SUGGESTION- LIMIT SELL AT 51.99 TAKE PROFIT AT 51.39 STOP LOSS AT 52.29