Could Oracle (ORCL Stock) test the 78.80 level?

Today’s instrument is the Oracle Corp. stock traded in NYSE exchange under the ticker ORCL.

Looking at the ORCL’s chart, we can see that on the 13 th of December, the stock popped above $85 due to the better-than-expected quarterly earnings announced and that it was lastly traded at around $81.90. If it holds above its support level today, which is located at around $80, then we should expect the price to test the resistance level at around $84.50 otherwise it could test its next support level at around $78.80.