ORACLE may look nasty but….

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ORACLE may look nasty but….Oracle CorporationBATS:ORCLJustBuyAndPrayToTheChartOracle is currently testing the critical 200-week EMA on the weekly chart, with the daily RSI sitting deep in oversold territory. While the price action this month has looked weak and discouraging, the company’s fundamentals remain very strong. There is no clear fundamental reason for the stock to continue declining from these levels. As long as the current support zone and the previous low around $140 hold, this could be one of the final buying opportunities before the next leg higher. My bias: This month appears to be a classic psychological shakeout, designed to scare out weak hands before the stock resumes its longer-term uptrend. Patience and strong hands will likely be rewarded here.