ORACLE CORP. - Oracle Corporation - 09/06/2023 (GMT)

Oracle Corporation (symbol ‘ORCL’) share price managed to make around 14% in profits in the last 3 months managing to stay positive in performance.The company’s earnings report for the fiscal quarter ending August 2023 is expected to be released on Monday 11th of September. The consensus EPS is $0.90 compared to the same quarter of last year at $0.81. 

‘The company has seen better days in terms of financials since as of 31/05/2023 the current ratio was at 91% meaning that the company did not have the ability to repay its short term liabilities with the current assets at hand. At the same time the total assets were around $134 billion while the total liabilities were around $133 billion with more than $90 billion as debt indicating the fragile balance sheet of the company. ’ said Antreas Themistokleous, an analyst at Exness.
 
 On the technical side the price has moved aggressively to the upside reaching a 52 -week high of just above $127 despite the bad financials in late May. Currently the price is testing the resistance of the upper band of the Bollinger bands while the Stochastic oscillator is recording extreme overbought levels possibly pointing at a correction to the downside in the coming sessions. On the other hand the 50 day moving average is still trading above the slower 100 day moving average showing that the overall bullish momentum might still be valid.