Oracle shares climbed above $160, reaching their highest level in roughly six weeks, following the release of a robust earnings report:
→ EPS: $1.79 vs. $1.70 expected
→ Revenue: $17.2bn vs. $16.7bn expected
This marks the first quarter in 15 years in which both revenue and earnings grew more than 20% simultaneously. Key drivers included:
→ Cloud infrastructure revenue, up 84% to $4.9bn
→ A five-year, $300bn agreement with OpenAI (Project Stargate)
→ Total backlog exceeding $553bn, highlighting future revenue potential
These results could relieve some of the selling pressure on ORCL, which had been in a downtrend since its record high last autumn.
In our technical note on 5 February, we observed the stock dip below $150, noting that:
→ key support levels might limit further declines
→ prices below $150 could attract institutional buyers
That day, ORCL established a low that held, and recent price action—including a bullish gap above $160—suggests that buyers are attempting to seize control.
However, challenges remain:
→ the $170 level now acts as resistance after previously serving as support (marked on the chart)
→ the red descending channel is still in play, limiting upside momentum
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