ORLY34 trade ideas
ORLY Resistance LvlI make stock analyses before the opening, these levels i draw are strong support/resistance and are the most powerfull on the same day. So i use them the moment when the market opens.
You can see somethimes i use 2 - 3 levels because i dont know where the market will open.
when the market open i see witch levels are still valid if it gaps above or under my level this one cannot used anymore.
If price come close to my level i place a limit order.
time frame i use are 5-10 min candles if price close right under or below the level with few penny's its of the table ! my risk reward ratio is 2:1 would be good to use trial these are scalp trades in high illiquidity market conditions !
ORLY Resistance lvlI make stock analyses before the opening, these levels i draw are strong support/resistance and are the most powerfull on the same day. So i use them the moment when the market opens.
You can see somethimes i use 2 - 3 levels because i dont know where the market will open.
when the market open i see witch levels are still valid if it gaps above or under my level this one cannot used anymore.
If price come close to my level i place a limit order.
time frame i use are 5-10 min candles if price close right under or below the level with few penny's its of the table ! my risk reward ratio is 2:1 would be good to use trial these are scalp trades in high illiquidity market conditions !
ORLY - ShortThe share price has rolled over like a water fall in a rounded top pattern. How low will in go? It is hard to say since this is the first correction of its kind with this stock. KMX's resent correction was approximately 40%. If that occurs here the share price bottom would be approximately $175. Will it happen???
big boysOrly and autozone erns tare two very nice based stocks with beautiful patterns that could cost you in the end if your not sure what your doing. over 90% of shares in both are held by institutions. what this means is that the equitys price is greatly influenced by the decions made by the big boys if they want to jump in and buy the stock or dump their stocks and sell it... not necissarily means this stock will move with the market.. could be very dsangerous uiif the big boys dont want to follow their pattern on this next trend. A usual pattern will last anywhere from 3-5 times before it begins a new one. thanks hopes this helps.
ORLY Short at ResistanceLooking to short ORLY here with resistance and 100 SMA above. Recent candles showing plenty of selling pressure with large upper wicks
ORLY gaps up but approaching $200I have posted on ORLY before (in early November) and since then it has gone on to experience a lovely linear trend.
After the first gap up I was waiting for a pullback followed by a breakout to enter the trade. This happened on the day of my last post so I was able to enter on the next bar. Yesterday's gap up added to my equity so overall I am happy with this position.
To trade ORLY now (if I didn't have a position open) I would only consider a near-term buy as price is rapidly approaching the $200 figure. But a quick profit could be made as the set-up looks good. The bar was bullish and on higher volume. The overall trend is up and linear. The breakout bar confirmed a bullish flag and, hopefully, $190 could act as support (which would stop the gap being filled).
However, while the bar is bullish (giving momentum to the upside) it is a reversal/indecision candle so if you do want to trade this make sure your stop is tight.
ORLY driving higherORLY has convincingly broken out of an 8 month range. Last week a bullish flag was confirmed on the weekly chart.
On the daily chart price gapped up on higher volume. Support is now around the 160 zone.
The gap was too soon to enter on a longer term strategy, due to the prolonged consolidation - it could have been a fakeout.
I will be waiting for a pullback followed by a further breakout before considering buying into this one.
Bullish gap on ORLYORLY had what I consider to be a gap and go. It broke out of a distribution phase, yesterday's candle was black and it's trapping anyone who sold short. Expect a short squeeze to happy and ORLY continue much higher. Regardless, great risk:reward
ORLY-Looks promising This could just go neutral for a week or two then jump again. But i think its going to re-trace itself about half way. I normally dont look at the big charts like 1w but this stock is one you would want to go long on, at-least for now. May short it will tight stops and then go long if i can get in at a good price.
$ORLY$ORLY. Clearly having problems with breaking out and with their competitors doing a much better job of things, such as $AZO and @AAP, I am not feeling this immediate long at all. My senses tell me there is a pull back ot occur : unless some very tender intra-day numbers off of Friday hold : As for the OPTIONS CHAIN : not sure yet how to best overlay : but it is a fantastic chance for everyone to see how the options play off the equity in real-time. Follow me on Twitter @BeautyBubble and as always, my love to the DayTradingRadio team : you are the best.
