And the push to 1400 is on, again!After the fair value gap progressed in three stages, it halted at the first one from the high, retracing, and then continued, giving bulls optimism and the rule of thumb: this isn't over yet!
ORLY34 trade ideas
Looks certain to test previous high at 1450 areaAfter a turbulent week, as things start to normalize a bit, the oversold areas are continuing to step up further. The one thing that stands out is the last candle beating the previous high, as pointed out on the arrow, but also testing resistance. This shouldn't be a great area of concern for bulls until it breaks through and retests the 52-week high.
1300 is prime to keep the momo goingStrength has been the lucky star of the ticker, but with the presence surrounding the world of decision-making finances, this might be the bit before the next lucky star.
$ORLY with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NASDAQ:ORLY after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 77.78%.
OReilly Long!I've entered a long position in $ORLY. Since this US stock reached its high in late July of this year, it has been continuously in a sideways correction, which is very bullish. In the last few trading days, it broke out of this channel to the upside and re-tested it on the last trading day.
The price is currently supported by the 38.2% Fibonacci level, the upper boundary of the broken channel, and the moving averages are catching up.
Let's see if this setup plays out as expected.
O'REALLY (ORLY)NASDAQ:ORLY is the latest stock I bought; a week later, it took off.
That is the power of buying stocks with the best technical analysis strategy for me.
It's up over 8%
O'Reilly Automotive Hit All-Time High In March, Nosedived AprilOn March 21, O'Reilly Automotive ( NASDAQ:ORLY ) stock hit an all-time high at 1169.11. However, in April, the stock nosedived and is currently trading at $1074.27 on Friday's session, down by 0.81%.
Despite the confusion in the auto market, O'Reilly Automotive ( NASDAQ:ORLY ), a leading retailer of auto parts and services, may see sales and profit gains, as auto shoppers may opt to wait and see which way the market wind blows.
O'Reilly Automotive ( NASDAQ:ORLY ) stock has a Relative Strength (RS) Rating of 83, which jumped into the 80-plus percentile with an improvement on Monday. But then the stock Plummeted on Friday's trading session now trading in the oversold territory, with a Relative Strength Index (RSI) of 38.49.
ORLYO’Reilly Automotive, Inc. is an American auto parts retailer that provides automotive aftermarket parts, tools, supplies, equipment, and accessories to professional service providers and do-it-yourself customers.
Potential buy/long on developing bull flag.
RectangleRectangles are a horizontal consolidation pattern and is neutral pattern until broken.
Price is on the support line today.
Recent fall from a bearish Rising Wedge. Both lines slope up narrowing at the apex and represents too much supply within the wedge. This pattern is not valid unless the bottom line is broken. An area of support will usually catch price after a fall from a wedge.
Recent RSI Divergence. Price movement does not match RSI. Bearish divergences are measured on the RSI peaks. A Bullish Divergence is often measured on the valleys.
No recommendation
ORLY Entry, Volume, Target, StopEntry: with price above 964.58
Volume: with volume greater than 343k
Target: 1042 area
Stop: Depending on your risk tolerance; 938.80 gets you 3/1 Reward to Risk Ratio.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Be careful with the auto marketWhen was the last time you needed to go to advanced auto parts, auto zone, o Reily ?
Probably only to get a battery.
New cars and most important EVs require minimal maintenance.
NYSE:AAP is good example.
ORLY: some upside potential?A price action above 922 supports a bullish trend direction.
Bullish confirmation for a break above 956.
The target price is set at 984.00 (upper range of the linear regression channel pattern).
The stop-loss is set at 911.
Upside price momentum supports the bullish trend direction.
ORLY Long on Consolidation Break-Out🐂 Trade Idea: Long
🔥 Account Risk: 1.00%
📈 Recommended Product: Knockout
🔍 Entry: +/- 922.00
🐿 DCA: No
😫 Stop-Loss: 877.99 (898.75 for aggressive trade)
🎯 Take-Profit #1: 977.59 (50%)
🎯 Take Profit #2: -
🎯 Trail Rest: Yes
🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨
If you like what you see don’t forget to leave a comment 💬 or smash that like ❤️ button!
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ORLY is in an overall uptrend and broke the consolidation trendline with a strong candle going into a bullish consolidation inside a small range. Entry should only be made if the daily candle remains outside the consolidation range (green box) today. If it falls back wait for another break-out and daily close.
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Disclaimer & Disclosures pursuant to §34b WpHG
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ORLY Head and Shoulders SetupBreak below Neckline ($800), this could see a $50 move to the downside. The bearish divergence on the MACD , RSI , and OBV.
ORLYNot a stock that I trade, but one of my followers mentioned it a couple of weeks ago.
Repeating the same pattern as the box area, I think it rallies next week.
ORLY SELL++++ WAY OVERBOUGHT!All technical indicators overbought here on various time frames, options market is thin so, I elected to buy Dec 16 $830 puts. We should retrace to $775 or below in coming days with new moon print.
O'REILLY AUTOMOTIVE, INC bullish, broke the resistance levelComment:
O'REILLY AUTOMOTIVE, INC broke the resistance 753.90 level from August 2022 as well as resistance from of April 2022.
Ichimoku Trend Analysis ( AFOBAY STRATEGY):
- Kumo (Senko span A and B) up
- Kijun sen up
- Tenkan sen up
- Chiko span above candles
Next Scenario:
803.72 level is also a monthly pivot point.
ORLY - bull flag setupWhen the next rally comes, this setup has potential. Set the trap and sight tight.
IQ has always and will always, get all the praise; but discipline gets the job done ~Mark Ritchie
Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
Sell $ORLY @ $ 724Sell $ORLY @ $ 724
TGT $ 611
TGT $ 697
TGT $665, $ 650
SL $750
Always keep strict SL
OReilly Automotive ORLY Approaching Short ZoneHaving lost the uptrend on the weekly, I now expect ORLY to retest and fail at the red zone. Decent reward/risk of just over 3 if orders are scattered throughout the short zone. Stop is essential, as with any swing trade.
5/25/22 ORLYOReilly Automotive ( NASDAQ:ORLY )
Sector: Retail Trade (Specialty Stores)
Market Capitalization: $39.973B
Current Price: $615.79
Breakout price: $621.50
Buy Zone (Top/Bottom Range): $609.20-$564.80
Price Target: $782.00-$788.00
Estimated Duration to Target: 406-418d
Contract of Interest: $ORLY 11/18/22 630c
Trade price as of publish date: $49.95/contract
ORLY.NAS_Swim Trading VZ Breakout_LongENTRY: 646.32
SL: 620.02
TP1: 672
TP2: 692
- ADX<20. Would like to be higher.
- RSI<50, >30. Prefer it to be above 50.
- Maintaining well at pivot point "P" and at 50% fib. level.
- Strength meter remains green indicating strength.
- RS showing increasing strength.
- 2 long shadow head red candles with volume on 30 Nov 2021 and 1 Dec 2021 is a concern.
- Entry based on breakout from VZ today but not a good closing.
$ORLY: Oh-oh-oh-oh-maybeeee? ♬O'Reilly along with other automotive retail are potentially showing promise after the XRT rout. Being in a higher market cap than comparative retail stocks could help ORLY benefit in a deflationary environment assuming the dollar trends higher in the intermediate - long term. Gas or electric and an ever growing group of DYI'ers automotive retail stands to benefit long term in my opinion.
