Shares of tech giant Oracle Corp (NYSE: ORCL) are currently trading just above $160, having bounced hard in the past couple of sessions. After announcing massive layoffs at the end of March, the stock initially moved higher before being dragged lower amid the broader equity selloff tied to escalating tensions in the Middle East.
That weakness proved short-lived. At the start of this week, Oracle shares jumped 13% in a single session, contributing to a move that’s seen gains of as much as 25% since the end of last week. While the stock is still working to reverse the downtrend that’s been in place since last September, this recent price action suggests something more meaningful may be taking shape.
