Volume Spike Investor

Oracle Corp. (NASDAQ: ORCL) is trading lower after last night’s earnings.  It posted a 5% rise in income and non-GAAP basis the figure was $0.30 EPS as revenue for the August quarter fell 5% to $5.054 billion.  We had noted that the Thomson Reuters estimate was $0.30 EPS cents a share and $5.25 billion in revenue.  At 8:17 AM EST we have seen over 400,000 shares trade hands, but be advised that this traded over 8 million shares in the after-hours session last night.   So far shares are down 2.6% at $21.56.  We would keep a steady eye on the 50-day moving average of $21.82 as that has acted as a bumper car level in the last 60 days.  This was a support level though, so it could be the new resistance level if today’s weakness persists.  JON OGG