This company with a solid business is acting bullishly, just as you would expect from CUE signals.
If you watched my weekend recap, you would know that I mentioned this company where I used to work before, Oracle Corp.
$ORCL
1, 2) It broke above a trendline resistance on Friday - in both weekly and daily charts. There is another Memory (auto-smart trendline) resistance nearby, again in both weekly and daily charts. You may watch if it can break above that. If it does that, you may look for a low-risk entry point. That is shown in the CUE Elite chart here.
Notice that $ORCL had hit Jump/Thrust Low (3) a few days ago while it was also at Price Extreme Low (4) - that was an extreme oversold condition from where a bounce up was very likely. And that was followed by a huge bullish momentum signal BigMoveUp3 (5). As I mentioned in the market recaps earlier, those sequence of CUE signals almost always lead to a price recovery going forward.
How did I find $ORCL and mention it in the market recap? I used CUE Finder to look for Breakouts (2) at Price Extreme Low (4) with bullish Pressure (6). $ORCL was found in that scan result.
CUE guideline is to always go for a low-risk entry, and every breakout may not give such an entry using daily intervals. If so, you could switch to an intraday chart (Fine Tune template) and try to make a precise entry.
Fundamentally, the stock is undervalued (7), and funds are accumulating (8). That is a good enough CUE reason to buy $ORCL.
When I looked at its industry during the weekend, it was improving, though it was not among the top 20%. Still, the Systems Software industry went up by 3.7% on Friday. You may see how the industry closes today.
What will you do if the stock is bullish near the close, but the industry is not one of the top 20% industries? CUE 360 trades are those where the industry is always aligned. If you relax that criteria, it may be because you know of the company. Or you are tracking the stock, and it is acting as you expected. Or due to fear of missing out. Or some other reason.
Whatever be the reason, it must fall within your trading plan. Fear of missing out is not a good reason to buy a stock.
Before I end this post, I will explain one of the precision entry techniques for swing trading using Fine Tune chart.
If you already did the CUE 360 analysis of $ORCL and wanted to buy it today, when it opened lower and broke above the Early Range High (9) pivot in Fine Tune chart, you could take a long. The intraday stop would be below the Early Low (10) pivot. By now, as it touched Previous Day's Close (11) pivot, it has covered the risk distance.
You could book partial profit and hold a partial position with the Early Low stop to ensure the trade is a winning trade from now onward.
If it continues upward, you would have bought it at a discount because you were ready with your CUE analysis.
I did exactly that today. If one did not take such a precise entry, CUE guideline is to wait to see if the nearby daily Memory trendline resistance is broken before buying the stock.