$Oracle(ORCL)$ Take a look at Oracle's daily chart from today.
Despite the brutal selloff, the final candle really stands out.
The stock briefly flushed to new lows, but buyers stepped in aggressively and pushed it back up before the close, leaving a long lower wick.
More importantly, this happened on massive volume.
To me, that doesn’t look like institutions dumping shares. It looks more like institutions absorbing shares from panicked sellers.
When you see a huge volume spike combined with a long downside rejection wick, it often signals that strong hands are accumulating while weak hands are capitulating.
No one knows what happens tomorrow, but today’s price action looked a lot more like accumulation than distribution.
After a $75 drop in a single week, that’s something worth paying attention to.
Retail investors were likely hitting stop-losses. Someone was buying every share they sold.
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