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Uptrend Broken Support

Uptrend Broken Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.

Uptrend Broken Support

Archive
- 3/15/2024 -
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O'Reilly Automotive Inc. (ORLY) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overbought
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceDaily  MACD line has moved above its signal line
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It was a first positive week for the O'Reilly Automotive Inc. (ORLY). During the week, the ORLY gained 28.98 points, or 2.67%, and closed at 1113.18 on Friday, March 15, 2024. It was the best weekly gain since January 19, 2024. Weekly volume was -13% 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 1121.99 on March 15, 2024. ORLY gained -870.47 points, or -346.08%, in 207 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (979.03) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 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 1121.99 on March 15, 2024. ORLY gained -207.49 points, or -22.69%, in 9 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 1078.50 and resistance is at 1123.15. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ORLY weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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, Relative Strength Index and Williams' Percentage Range 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 near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 February 8, 2024 at 1009.29 and reached 1121.99 on March 15, 2024. ORLY gained -112.70 points, or -11.17%, in 36 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See ORLY daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily 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 daily 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.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.82
Williams' Percentage Range (W%R) 9.60
Strong Overbought
Lane's Stochastic (%D-Slow) 81.05
Overbought Bearish
Greed/Fear Indicator (GFI) 82.42
Overbought
Moving Average Converg./Diverg. (MACD) 18.24 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.17
Overbought
Williams' Percentage Range (W%R) 3.30
Strong Overbought
Lane's Stochastic (%D-Slow) 88.81
Overbought
Greed/Fear Indicator (GFI) 83.42
Overbought
Moving Average Converg./Diverg. (MACD) 29.24
Trading Signals
Description Value Chart
Weekly Trendline Resistance 1123.15
Upper Bollinger Band 1122.75
Daily Stochastic Crossing 1115.95
Price 1113.18
Weekly Stochastic Crossing 1112.64
Quarterly Trendline Resistance 1098.66
20 Day Moving Average 1078.70
Weekly Trendline Support 1078.50
Parabolic System 1075.38
50 Day Moving Average 1036.90
Lower Bollinger Band 1036.16
Quarterly Trendline Support 979.03
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Specialty Stores 110
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 1009.29
Low Date 02/08/2024
High 1121.99
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 1123.15
Support 1078.50
Low 914.50
Low Date 01/08/2024
High 1121.99
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 860.10
Low Date 10/25/2023
High 1121.99
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 1098.66
Support 979.03
Low 251.52
Low Date 03/23/2020
High 1121.99
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 169.43
Low Date 07/10/2017
High 1121.99
High Date 03/15/2024
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.