What do a gigantic software company, energy company and teleco have in common right now?
Not much, it seems.
All three have very different businesses, macro conditions and fundamental situations. But the one thing they all have in common is arguably the most important for investors: They're each teetering on the edge of signaling a major buy signal in June.
To figure out which stocks are about to be in play (and when you should buy them), we're turning to the charts for a technical look.
Leading things off is $185 billion software giant Oracle Corp. (ORCL) .
Oracle has exhibited some clear-cut price leadership in 2017 -- shares are more than 18% higher than they started the year. But don't worry if you've missed out on that rally in Oracle. Shares look ready to kick off a second leg higher this summer.
Oracle is currently forming an ascending triangle pattern, a bullish continuation setup that's formed by horizontal resistance up above the shares at $46, and up-trending support to the downside. As Oracle has bounced in between those two technically important price tags, shares have been getting squeezed closer and closer to our $46 price ceiling. When that $46 price level gets exceeded, we've got our buy signal in Oracle.
It's crucial to be reactionary with the Oracle trade. That's because, while buyers have clearly been in control of the price action this year, Oracle's next leg higher doesn't become a high-probability trade unless buyers are able to bid shares up materially above the $46 level that has swatted the rally lower on the last three attempts through it. Stay tuned.