Watch These Oracle Price Levels as Stock Surges to Record High on Cloud Growth Outlook

Oracle (ORCL) shares soared to a record high Thursday after the enterprise software giant’s quarterly results and sales outlook sailed past Wall Street expectations.

The company said it expects “dramatically higher” revenue growth this fiscal year, driven by strength in its cloud infrastructure segment, which is sees growing more than 70%. The bullish outlook prompted several analysts to lift their price targets, with KeyBanc analysts saying in a note to clients that Oracle’s growth projections were “stunning.”

Oracle shares jumped 13% to close Thursday at just under $200, pacing S&P 500 gainers. The stock has risen nearly 70% from its early-April low and is up 20% so far in 2025, easily outpacing the S&P 500 over those periods.

Below, we take a closer look at Oracle’s chart and use technical analysis to identify importan price levels worth watching out for.

Breakaway Gap to All-Time High

Oracle shares forged an inverse head and shoulders on the chart between March and May before breaking out above the pattern’s neckline earlier this month. That momentum accelerated on Thursday, with the stock staging a breakaway gap on heavy trading volume.

While the relative strength index confirms bullish price momentum, it also warns of extreme overbought conditions with a reading above 85, potentially leading to short-term profit-taking.

Let’s use the bars pattern tool to provide insight as to where the stock’s price may be headed next and also identify important support levels worth watching during retracements.

Bars Pattern Analysis

To forecast how price action on Oracle’s chart may play out, we can apply the bars pattern tool to project future trends.

When applying the analysis, we extract the price bars comprising the stock’s longer-term move higher from June to December last year and overlay them from the low of Thursday’s breakout move. This projects a potential upside price target of around $275 and indicates the trend may last until mid-December if price action rhymes with the prior move.

We selected this earlier trend as it also commenced following a 13% earnings-driven breakaway gap after last year’s corresponding quarterly report.

Important Support Levels to Watch

The first support level to watch sits at $180. A retracement to this level would likely attract buying interest near a brief period of consolidation preceding Thursday’s breakout, which also closely aligns with the prominent October and February peaks.

Finally, a more significant pullback could see Oracle shares revisit lower support around $154. Investors may seek entry points in this region near a horizontal line that connects a range of corresponding trading activity on the chart extending back to last September.

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As of the date this article was written, the author does not own any of the above securities.