ORCL down 52% from its May peak. Is $119 actually the floor or are we still in denial?

https://preview.redd.it/i7ngt79j2pfh1.png?width=554&format=png&auto=webp&s=ba4a61a274f76629d017b9d20c498a9d7cb36955 From $249 in late May to $119 now. That's a 52% haircut in roughly two months for a stock most people thought was untouchable heading into summer. Brutal. The level that matters right now is $119. That's where the weekly chart is sitting, and pre-market today showed 92K shares moving with a +3.23% push to $123.9. Volume was basically dead on the way down, so that kind of pre-market activity at support is at least worth paying attention to. Checked the options chain on MooMoo and the $138-140 range keeps showing up as the next real resistance cluster if this support holds. The thesis is simple: weekly candle closes above the support line, that's the first technical confirmation. Miss it, and we're probably testing lower. The bear case is that $119 is just a parking spot before the next leg down, and the bounce is a trap. That's the real debate here. Anyone still holding ORCL from higher, or did most people bail before it got this ugly?