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- 10/9/2020 -
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O'Reilly Automotive Inc. (ORLY)

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Summary:
Weekly :Overbought sectorWeekly  MACD line has moved below its signal linePrice is near the Fibonacci 23.6% retracement level
Daily :Price is near the Fibonacci 23.6% retracement level
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It was the negative week for the O'Reilly Automotive Inc. (ORLY). During the week, the ORLY dropped -8.86 points, or -1.93%, and closed at 449.38 on Friday, October 9, 2020. Weekly volume was -44% below average.

ORLY is a member of Consumer Discretionary Sector. Consumer Discretionary is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

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 271.54 and resistance is at 550.10. 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 downtrend had started on July 30, 2020 at 487.95 and reached 437.57 on September 24, 2020. ORLY lost 50.38 points, or 10.32%, in 8 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See ORLY weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See ORLY short-term trend chart]
A short-term downtrend had started on October 1, 2020 at 467.63 and reached 443.28 on October 6, 2020. ORLY lost 24.35 points, or 5.21%, in 5 days. Price is near the Fibonacci 23.6% retracement level.

Daily Technical Indicators: [See ORLY daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since September 3, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.93
Williams' Percentage Range (W%R) 62.70
Lane's Stochastic (%D-Slow) 35.78
Greed/Fear Indicator (GFI) 39.99
Moving Average Converg./Diverg. (MACD) -2.75
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.30
Williams' Percentage Range (W%R) 37.00
Lane's Stochastic (%D-Slow) 48.88
Greed/Fear Indicator (GFI) 55.01
Moving Average Converg./Diverg. (MACD) 17.84
Trading Signals
Description Value Chart
Upper Bollinger Band 476.69
50 Day Moving Average 463.54
20 Day Moving Average 457.43
Weekly Stochastic Crossing 457.17
Daily Stochastic Crossing 449.73
Price 449.38
Parabolic System 443.26
Lower Bollinger Band 436.32
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 10
Industry Specialty Stores 59
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 467.63
High Date 10/01/2020
Low 443.28
Low Date 10/06/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 485.00
High Date 09/03/2020
Low 437.57
Low Date 09/24/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 487.95
High Date 07/30/2020
Low 437.57
Low Date 09/24/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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 550.10
Support 271.54
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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