ORCLE Re-Test Head & Shoulders

26 Jul 2013

ORCL test Nick line for Head and Shoulder formation supported by 20 / 50 SMA and Mid Bolingar Band .....the long term down trend is confirmed by Double Top seen in Monthly chart seen in 36.50 , it seems like the bears are very strong with 16 June and 13 Mar Bearish Weekly Engulfing , we would suggest Buying Dec 2013 Put 33 Strike ....this scenario will be canceled with any weekly candle closed above 33............or we can sell the stock directly from next week