Oracle Corporation (ORCL) closed the day on its highs but tomorrow will be a very different story as the stock is down almost 7% in after hours trading.
ORCL beat earnings but traders felt the numbers weren't good enough as the stock immediately sold off on the release of the report.. The company reported $0.75 EPS on a 12% gain in sales with $10.78 billion in revenues.
As you can see in the above chart, the stock has held its 200 day moving average but as of this writing it appears that ORCL will open down tomorrow well below this very important and most watched moving average.
In the after-hours session Oracle Corporation (ORCL) is currently trading at 30.46 which is down 6.25% from Thursday's close.