Oracle saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 68 to 86.
IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the best stocks typically have an RS Rating of over 80 in the early stages of their moves.
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Oracle has climbed more than 5% past a 132.77 entry in a second-stage cup without handle, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company reported -2% earnings growth in its most recent report. Revenue increased 3%.
The company holds the No. 7 rank among its peers in the Computer Software-Database industry group. Commvault Systems, Elastic and Varonis Systems are among the top 5 highly rated stocks within the group.
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