Oracle - reports earnings in after-hours trading

Taking a look at Oracle ahead of its earnings in after-hours trading. Currently, its shares are trading at around $113.50 a share. We can see the price has been trading within the range drawn on the chart since October now, so we could see a start of a new trend here after the earnings report. With Oracle being a tech company, we may see some benefits in the report from AI as well as positive guidance. Hence, the bias here points towards the upside with potentially further gains going into Q2. However, it is not guaranteed that the company will outperform just because it finds itself within the tech industry. Any guidance readjustments to conservative targets for the year may see investor sell-off, as seen with some of the other tech players recently. Looking at the chart, the resistance here is located along the upper trendline of the channel, reading $118.65. A break and close above this level would allow investors to eye up the all-time highs of $125-$126. Towards the downside, there are two key support levels in focus, the first one being $106.54. A break below this support would then shift the attention towards the support base of $99-$100. Looking at the technical indicators, they are rather neutral with the MACD practically flat and the RSI reading 55.