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Archive
- 10/11/2024 -
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O'Reilly Automotive Inc. (ORLY) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the O'Reilly Automotive Inc. (ORLY). During the week, the ORLY gained 32.63 points, or 2.83%, and closed at 1187.53 on Friday, October 11, 2024. Weekly volume was -41% 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 1190.32 on October 11, 2024. ORLY gained -938.80 points, or -373.25%, in 237 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 1067.03 and resistance is at 1203.93. 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 long-term trend.
 Medium-term trend: [See ORLY medium-term trend chart]
A medium-term uptrend had started on May 29, 2024 at 947.49 and reached 1190.32 on October 11, 2024. ORLY gained -242.83 points, or -25.63%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend resistance line (1187.11). 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 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. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 July 26, 2024. This is an indication that the medium-term trend is up. 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 September 11, 2024 at 1096.60 and reached 1190.32 on October 11, 2024. ORLY gained -93.72 points, or -8.55%, in 30 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (1163.03) 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 short-term trend.
 Daily Technical Indicators: [See ORLY daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since September 25, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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