Oracle Corp. (ORCL) is due to report its latest earnings figures on Tuesday, which was pointed out in Jim Cramer's game plan for this week during Friday's Mad Money program. Let's visit with the charts and indicators today to see if there are any clues about how traders are positioned.
In the daily bar chart of ORCL, below, we can see that prices have largely been in a sideways trading range between $52 and $56 for much of the past 12 months. I am not ignoring the February-March decline from $56 to $40 but the view from 35,000 feet is sideways. ORCL crosses the 50-day moving average line and the 200-day moving average line many times.
While trading volume looks like it triples in March, notice that the On-Balance-Volume (OBV) line makes only a shallow decline from February into March telling us that investors largely stayed with their long positions. The OBV line has since made a new high for the move up and could be foreshadowing new price highs in the weeks ahead.
The trend-following Moving Average Convergence Divergence (MACD) oscillator has been weakening since the middle of April. It has not broken below the zero line for an outright sell signal but it is getting very close and tells us that the trend has been weakening.