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Uptrend Broken SupportArchive - 3/15/2024 - Sign In to see current Signals. |
O'Reilly Automotive Inc. (ORLY) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | 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.
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