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Uptrend ExhaustionArchive
- 4/5/2024 -
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O'Reilly Automotive Inc. (ORLY) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the O'Reilly Automotive Inc. (ORLY). During the week, the ORLY gave back -11.32 points, or -1.00%, and closed at 1117.56 on Friday, April 5, 2024. Weekly volume was -26% below average.
 Long-term trend: [See ORLY long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 251.52 and reached 1169.11 on March 21, 2024. ORLY gained -917.59 points, or -364.82%, in 208 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (1109.07). 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 long-term trend.
 Medium-term trend: [See ORLY medium-term trend chart]
A medium-term uptrend had started on January 8, 2024 at 914.50 and reached 1169.11 on March 21, 2024. ORLY gained -254.61 points, or -27.84%, in 10 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (1177.33) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See ORLY weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since January 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 March 21, 2024 at 1169.11 and reached 1098.74 on April 4, 2024. ORLY lost 70.37 points, or 6.02%, in 14 days. The price is now at the 26.74% 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 March 27, 2024. This is an indication that the short-term trend is down.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See ORLY candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.
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