Oracle Corp (US: ORCL) report dated 2^nd of June is still ongoing after recent technical indicate a strong bullish continuation:

1. The formation of the falling wedge has been successfully broken out, indicating a bullish continuation signal.
2. The morning star formation has successfully rebounded at the 50% Fibonacci retracement level and above the immediate support at US$91.08-US$92.32. Also, the last bullish candle of the morning star pattern has successfully close above the 9-period Tenkan-Sen.
3. Ichimoku wave analysis indicate that there will be one more “N” wave coming along for the next possible 26 periods of upside.

*Expected timeline of the trade is 15 weeks from the date of report issuance.

*The downside is that prices reject the Kijun-sen and US$96.93 resistance level remains crucial. Should it fail to, the bullish call on this report will be invalidated.

CHART LEGEND

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Blackline = 26 periods Chikou Span. Lagging line