oracle corp nyse orcl shares are trading higher friday after the company announced betterthanexpected fiscal second quarter 2022 financial results the company increased its share buyback and also declared a quarterly dividend oracle reported quarterly earnings of 121 per share beating the estimate of 1111 per share quarterly revenue came in at 1036 billion beating the estimate of 1021 billion oracle was up 1664 at 10354 at time of publication see related why oracle shares are making new alltime highs today   shares saw a large gap higher to resistance in what traders call an upward sloping channel the stock looked to have broken below the support but the earnings pushed it to the resistance in the channel   the stock trades above both the 50day moving average green and the 200day moving average blue this indicates bullish sentiment and each of these moving averages may hold as an area of support in the future   the relative strength index rsi shot higher and now sits at 72 on the indicator this push up into the overbought range shows that the stock saw a large increase in buying pressure and now the buying pressure heavily outweighs the selling pressure after seeing the large gap up the stock may slow down for the next few days and move sideways bulls are in control of the stock as it trades near resistance in the channel and above both of the moving averages if the stock can stay above these moving averages and in the channel bulls will keep hold of the stock bears are looking to see a break below the support in the channel and for the price to fall below the moving averages to take hold of the stock