The Nasdaq is up 2.72% while the S&P 500 has gained 1.45%. • Oracle shares are powering higher. What’s behind ORCL gains?The movement follows Monday, when Oracle stock gained by almost 6% as the expanded artificial intelligence partnership boosted investor sentiment.Wall Street Evaluation of BacklogOracle Stock: Key Levels to WatchOracle is trying to stabilize after a steep 12-month slide of 42.39%, and the chart still shows a longer-term downtrend even with the current bounce. The stock is trading 19.7% below its 200-day SMA and 10.7% below its 50-day SMA, which tells you the bigger trend remains pressured.In the near term, the stock is trading 13% above its 20-day SMA, a sign the latest rebound has real traction versus the most recent baseline. But the 20-day SMA remains below the 50-day SMA, and the 50-day SMA is below the 200-day SMA (the Death Cross that formed in January), so rallies can still run into overhead supply.From a levels standpoint, traders will likely watch whether the stock can reclaim the $149 area, which sits near the 50-day EMA ($149.80) and can act like a "ceiling" during rebounds. On the downside, $135 is the nearby line in the sand; losing it would put focus back on the July low zone and the broader 52-week range floor at $114.50.