The President is announcing an AI infrastructure deal with Oracle part of the JV which includes OpenAI and Softbank. Shares of Orable surged on the deal and in the process made a move technically above the stocks 100 day MA at $170.48. The price also moved above the 100 and 200 hour MAs. The 200-hour MA is at $168.50. That too is a key level.
That’s bullish.
Close risk is the 100-day MA at $170.48 and below that the 200-hour MA at $168.50.
In this video, I take a look at the move and what would keep the buyers in full control.
This article was originally published by Forexlive.com. Read the original article here.