Cloud software giant Oracle ( ORCL) has rallied smartly from a September/October low. Indeed, the shares have broken a longer-term downward trend. However, does that mean that prices are extended or ready for further gains?
Let's check out the charts and indicators.
In the daily bar chart of ORCL, below, I see a big rally in the past three months. Prices are above the rising 50-day moving average line and above the rising 200-day line. ORCL has broken above its August peak and made a higher low in December to establish an uptrend.
The trading volume shows an increase from the middle of September and the On-Balance-Volume (OBV) line shows a rise from early October telling me that buyers of ORCL have been more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator has just crossed to the upside for a fresh outright buy signal. 
In the weekly Japanese candlestick chart of ORCL, below, I see a positive-looking picture. The shares trade above the rising 40-week moving average line. The chart suggests that traders could approach resistance in the $90-$105 area. The candles are not showing any recent upper shadows and that is a positive.
The weekly OBV line shows a rise from February. The MACD oscillator is bullish.
In this daily Point and Figure chart of ORCL, below, we can see an upside price target in the $99 area.
In this weekly Point and Figure chart of ORCL, below, a price target in the $110 area is shown.
Bottom-line strategy: ORCL could pull back to the $82 area and aggressive traders could use that weakness to go long or add to longs. Risk to $77.
