In late 2018, Oracle $ORCL was dragged down by overall market risk aversion. However, it maintained at least a sideways mode and did not fall into further bearish correction as we can see on the daily chart. Instead, it recovered in 2019, outperforming the market on its bullish swing.ORCL Daily Chart(click to enlarge)Bullish Breakout:- One of the evidence that ORCL outperformed the market is that it has broken above the 2017-2018 highs, while the SPX, or even the QQQ tech ETF have not made it back to the 2018 highs. - The bullish breakout in ORCL suggests it is in a bullish continuation mode. Pullback:- So far the breakout has not been very decisive. I think there would be a pullback. - IF price pulls back, a bullish ORCL should hold above $50, or at least $48. - A break below $47 would signal further consolidation and potential bearish correction back towards the $42-$43 lows from 2018.Earnings Reaction:- Last week, the market seemed indifferent regarding Oracle's most recent earnings report, which was decent my all accounts. Here's a summary from CNBC:Earnings: 87 cents per share, excluding certain items, vs. 84 cents per share, excluding certain items, as expected by analysts, according to Refinitiv.Revenue: $9.61 billion, vs. $9.59 billion as expected by analysts, according to Refinitiv.Oracle's revenue, disclosed in a statement, fell 1 percent from a year earlier in the quarter, which ended on Feb. 28. With respect to guidance, Oracle CEO Safra Catz said the company is expecting earnings per share of $1.05 to $1.09, excluding certain items, and revenue that would be flat to down 2 percent in the fiscal fourth quarter. Analysts were looking for guidance of $1.05 in earnings per share, excluding certain items, and a 1 percent revenue drop, according to Refinitiv. In the latest quarter, Oracle picked up business from Fair Isaac, Gap Stores and Jo-Ann Stores, CEO Mark Hurd said on a conference call on Thursday. Co-founder Larry Ellison pointed to "university researchers" switching to Oracle from cloud provider Amazon Web Services because of the opportunity cost savings.From CNBCWaiting for Pullback (Tentative Trade Plan):- Because price has been bullish since the end of 2018, I would like to wait for a pullback in ORCL before buying. - I had been waiting for another visit of the $43 area, but the recent breakout suggests I should anticipate support at a higher price i.e. $49 area. - I will be considering a buy around $49 with a stop around $46 and a target around $60. - This could end up being a short to medium-term trade. (several weeks to a 2-3 months)