$Oracle(ORCL)$ NOV20 135C stil

$Oracle(ORCL)$ NOV20 135C still looks actionable.

Zone: $128.68 to $130.50

Invalidation: close under $127.36

Objectives: $138.63, then $144.57

The setup math: up 7.0% to the first objective and 11.6% to the second, against 1.7% risk on the invalidation. That works out to better than 6 to 1 to the second target.

Oracle closed at $129.59, up 1.1 percent, after buyers held the $129.12 low well above the $127.36 low from Friday. The stock is still down about 12 percent in a month, so a lot of the worry looks like it is already priced in. The floor sits close underneath, and if it holds there is honest room back toward the levels lost on the way down. A close under $127.36 says the idea is wrong.

Watching $131.40 first. That was the high on Monday, and a close above it would show buyers pressing, not just holding the low.

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