ORCL support zone 135 hit

Support zone: close above is a hit. Close on the level is a push. Graded on the regular-session close.

A support zone is a price below the market where a large amount of options positioning sits. The idea is that this positioning can slow a move down there, so the test is simple: does the stock close above it? When it was posted at 08:45 ET, ORCL traded at 139.6, 3.4% above the support zone. On the same map, the next level above was 150 and the next level below was 130. See the original post.

Price never closed a 5-minute bar on the wrong side of the support zone. Its closest approach was 0.57 away (135.57); the session range was 135.57 to 141.40. In the last hour price moved up 3.59, from 137.81 to 141.40.

The regular-session close was 138.08, 3.08 (2.28%) above the support zone at 135. Under the rule (support zone: close above is a hit), that is a hit.

ORCL finished the day up 0.6%, while SPY was up 0.2%. We found no single clear company-specific catalyst for the day in our notes.