$ORCL (Oracle Corp) has earnings this coming week, and just so happens that I am a looking to rebuild a new Long Term account position. Additionally, it hit my scan for “Williams %R (14) crossed below -90.00 within the last 1 day” on StockFetcher. Here is the Daily chart:
Based on the above chart, any dip to the -90 line on Williams has been a nice entry spot. I would expect the same to hold true for the current reading. For more perspective, I have pulled out to a Weekly chart:
A rough week indeed, but managed to hold the 50% retracement line. My current plan is to sell Put options for Jan at the 27 strike – if liquid enough.