Oracle Stock Nears Key Support in Elliott Wave Setup

According to Xtrades Analysts Team, “if you follow Elliott Waves, then $ORCL is very close to the bottom on Wave 4 retracement.” Their TradingView chart shows Oracle hovering around $272—right inside a key demand zone. The stock currently carries a Weak Sell rating, but the correction may be running out of steam. If buyers step in here, we could see a Wave 5 push higher. The $260–$270 zone has acted as solid ground before, where the stock found its footing and bounced.

The hourly timeframe reveals a clear Elliott Wave structure, with Wave 3 topping near $350 before pulling back to current demand levels. Moving averages are flattening out and momentum indicators suggest selling pressure is fading. A hold above $272 with rising volume would signal strength and a possible continuation upward. Breaking below $260, however, would break the bullish case and open the door to $230–$240.

Despite short-term choppiness, Oracle’s technical picture still looks decent. Wave 4 corrections in Elliott theory often lead into strong Wave 5 rallies—and this demand zone could draw in larger players looking for an entry. As Xtrades Analysts Team points out, Oracle is sitting at a fork in the road. What happens over the next few sessions will likely determine where it heads next.