For nearly two weeks, Oracle (ORCL) has been consolidating its post-earnings gains from 24.91 to 28.95, which has taken the form of a high-level bullish coil pattern that should be preparing to thrust to the upside towards a next optimal target zone of 29.40/60.

At this juncture, only a decline that breaks 28.00-27.95 will wreck the promising near-term technical set-up.

 


Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.