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Oracle shares soared more than 30% in premarket trading Wednesday after the computing giant raised its outlook for cloud infrastructure sales and said it added several large new customers amid booming AI demand.
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The stock looks set to break out from a flag pattern to a fresh record high on Wednesday, laying the groundwork for a continuation of the longer-term uptrend.
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The measured move technique projects an upside target of $384. Investors should also watch critical support levels on Oracle’s chart around $261 and $198.
Oracle (ORCL) shares soared Wednesday morning after the computing giant raised its outlook for cloud infrastructure sales and said it added several large new customers amid booming AI demand.
The company, which has struck deals with big tech customers including Amazon (AMZN), Alphabet (GOOGL) and Microsoft (MSFT), said it now sees cloud infrastructure sales jumping 77% to $18 billion this fiscal year, above its June forecast of 70% growth. CEO Safra Catz told investors that the company expects to sign-up several additional multi-billion-dollar customers in coming months to push its booked cloud orders over half a billion dollars.
Leading into the company’s earnings release, Oracle shares had gained 45% so far in 2025, handily outpacing the S&P 500’s return over the same period, boosted by robust demand for its cloud infrastructure services and AI database integration tools. The stock was up 32% at $318 in recent premarket trading.
Below, we take a closer look at Oracle’s weekly chart and use technical analysis to identify critical price levels that investors will likely be watching.
After setting their all-time high in late July, Oracle shares consolidated in a flag pattern ahead of the company’s quarterly results, laying the groundwork for a continuation of the longer-term uptrend. Indeed, the stock looks set to gap to a fresh record high on Wednesday.
It’s worth noting that the shares have already registered their highest volume this week since mid July, suggesting that some larger market participants rebalanced portfolios leading into the report.
Let’s turn to Oracle’s chart to identify a potential upside target if the shares see an extended post-earnings rally and also point out a few support levels worth monitoring.
Investors can project an upside target by using the measured move technique, also known by chart watchers as the measuring principle.
When applying the analysis to Oracle’s chart, we calculate the stock’s strong uptrend that preceded the flag in points and add that amount to the pattern’s top trendline. For instance, we add $142 to $242, which projects a target of $384, implying an upside of nearly 60% from Tuesday’s closing price.
