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- 7/31/2020 -
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O'Reilly Automotive Inc. (ORLY)

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceTrend resistance at 450.86
Daily :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic bearish divergencePrice is near the Fibonacci 23.6% retracement level
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It was a third consecutive positive week for the O'Reilly Automotive Inc. (ORLY). During the week, the ORLY gained 35.04 points, or 7.92%, and closed at 477.38 on Friday, July 31, 2020. It was the best weekly gain since April 9, 2020. Weekly volume was 13% above average.

Long-term trend: [See ORLY long-term trend chart]
A long-term uptrend had started on July 10, 2017 at 169.43 and reached 487.95 on July 30, 2020. ORLY gained -318.52 points, or -188.00%, in 159 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 266.10 and resistance is at 530.91. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See ORLY medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 251.52 and reached 487.95 on July 30, 2020. ORLY gained -236.43 points, or -94.00%, in 18 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend resistance line (450.86). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ORLY weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 1, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See ORLY short-term trend chart]
A short-term uptrend had started on July 24, 2020 at 442.15 and reached 487.95 on July 30, 2020. ORLY gained -45.80 points, or -10.36%, in 6 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ORLY daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since July 15, 2020. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.26
Overbought
Williams' Percentage Range (W%R) 11.50
Overbought
Lane's Stochastic (%D-Slow) 74.02
Bearish
Greed/Fear Indicator (GFI) 82.25
Overbought
Moving Average Converg./Diverg. (MACD) 8.96
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.88
Williams' Percentage Range (W%R) 3.60
Strong Overbought
Lane's Stochastic (%D-Slow) 83.89
Overbought Bearish
Greed/Fear Indicator (GFI) 81.22
Overbought
Moving Average Converg./Diverg. (MACD) 6.10 Bearish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 530.91
Upper Bollinger Band 479.31
Quarterly Trendline Support 477.92
Price 477.38
Daily Stochastic Crossing 477.11
Weekly Stochastic Crossing 474.69
Parabolic System 460.84
Quarterly Trendline Resistance 450.86
20 Day Moving Average 439.62
50 Day Moving Average 426.80
Lower Bollinger Band 409.11
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 6
Industry Specialty Stores 94
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 442.15
Low Date 07/24/2020
High 487.95
High Date 07/30/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 442.15
Low Date 07/24/2020
High 487.95
High Date 07/30/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 409.17
Low Date 06/25/2020
High 487.95
High Date 07/30/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Resistance
Resistance 450.86
Support 477.92
Low 251.52
Low Date 03/23/2020
High 487.95
High Date 07/30/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 530.91
Support 266.10
Low 169.43
Low Date 07/10/2017
High 487.95
High Date 07/30/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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