Oracle Corporation (ORCL) slipped lower in its latest intraday trading, breaking below the key support level of 218.80 dollars, as a steep short-term corrective downtrend continues to dominate its movement. The stock remains under persistent negative pressure while trading below the 50-day simple moving average, and fresh negative signals are emerging again on the Relative Strength Indicators after the stock previously managed to unwind its oversold conditions. This gives ORCL additional room to extend its losses in the near term.

Therefore, we expect the stock to decline in the upcoming sessions, as long as it remains below 218.80 dollars, targeting the support level of 179.55 dollars.

Today's price forecast: Bearish