Thursday, September 16, 2010

Oracle Corporation (ORCL) - Posts Positive Earnings

In after hours trading Oracle Corporation (ORCL) is up over 4% as the company reported better than expected earnings.  This stock beat estimates by .05 reporting earnings of .42 a share.

As you can see in the above daily chart of ORCL, this stock has been rising rapidly over the past 2 weeks going into the earnings report.  We'll most likely see a gap higher open tomorrow around the $26.50 level which coincides with the high from last April. It will be interesting to see now that all the positive news is out if traders will sell the stock (buy the rumor sell the fact) as the stock tests key resistance at $26.50.

Today Oracle Corporation (ORCL) closed at 25.36 which was down 1.48% from Wednesday's close.

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