Filed under: Newsletters , Oracle Corp (ORCL) , Technical Analysis , Stocks to Buy , Technology This post is part of a report entitled "Six-pack of technology favorites." You can read about the other top tech stock picks here . "Technically, Oracle (NASDAQ: ORCL ) is now set up nicely in a base for a breakout," says Leo Fasciocco , a technical analyst who specializes in stocks breaking out above previous resistance levels. In his Ticker Tape Digest , the newsletter advisor explains, "ORCL is in a good spot to be accumulated for a breakout, supported by favorable earnings prospects. And as a big cap play, it is most suitable for conservative investors." "Oracle, based in Redwood City, California, sells a wide range of enterprise software solutions, including databases, middleware, and applications. With annual revenues of $22.4 billion, ORCL is one of the largest software companies. Its updates and product support are the most profitable segment of its operations. It accounts for 46% of revenues. "The company has an active acquisition program that is a fundamental component of its strategy. ORCL has spent more than $28 billion in acquisitions the last four fiscal years. "The stock's long-term chart shows a powerful run up to 40 during the 2000 bull market. It then went south with the stock market. It has since been working its way back. Short-term, the stock rallied from 18 to 23 and has formed a cup-and-handle base. That type of p ...
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