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- 7/5/2024 -
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O'Reilly Automotive Inc. (ORLY) Technical Analysis

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Summary:
Weekly :Trend support at 1035.53Price is near the Fibonacci 38.2% retracement level
Daily :Daily  MACD line has moved below its signal line20 Day Moving Average has crossed above the 50 Day Moving AveragePrice is near the Fibonacci 23.6% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the O'Reilly Automotive Inc. (ORLY). During the week, the ORLY dropped -29.24 points, or -2.77%, and closed at 1026.82 on Friday, July 5, 2024. It was the worst weekly loss since May 3, 2024. Weekly volume was -6% 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 support (1035.53) line. The support is usually stronger when technical indicators are oversold. 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 support line in a long-term trend.

Medium-term trend: [See ORLY medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 1169.11 and reached 947.49 on May 29, 2024. ORLY lost 221.62 points, or 18.96%, in 9 weeks. Price is near the Fibonacci 38.2% 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.

The weekly MACD line is below its signal line since April 19, 2024. This is an indication that the medium-term trend is down. 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 June 21, 2024 at 1091.22 and reached 1008.55 on July 1, 2024. ORLY lost 82.67 points, or 7.58%, in 10 days. Price is near the Fibonacci 23.6% retracement level.

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

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

During the last week, the price has declined below 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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.33
Williams' Percentage Range (W%R) 55.00
Lane's Stochastic (%D-Slow) 28.30
Greed/Fear Indicator (GFI) 43.55
Moving Average Converg./Diverg. (MACD) 10.00
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.60
Williams' Percentage Range (W%R) 65.30
Lane's Stochastic (%D-Slow) 44.21
Greed/Fear Indicator (GFI) 41.04
Moving Average Converg./Diverg. (MACD) 12.91
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 1155.16
Upper Bollinger Band 1098.40
Parabolic System 1072.45
Quarterly Trendline Support 1035.53
20 Day Moving Average 1030.61
Price 1026.82
Daily Stochastic Crossing 1024.42
Weekly Stochastic Crossing 1023.60
50 Day Moving Average 1014.48
Lower Bollinger Band 962.43
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 3
Industry Specialty Stores 37
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 1091.22
High Date 06/21/2024
Low 1008.55
Low Date 07/01/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 947.49
Low Date 05/29/2024
High 1091.22
High Date 06/21/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 1169.11
High Date 03/21/2024
Low 947.49
Low Date 05/29/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 1155.16
Support 1035.53
Low 251.52
Low Date 03/23/2020
High 1169.11
High Date 03/21/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 169.43
Low Date 07/10/2017
High 1169.11
High Date 03/21/2024
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.