On 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...
O’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.
Rectangles 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...
Entry: 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...
When 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.
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.
Not 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.
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.
Comment:
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.
this is my bullish trend continue idea. however wait for come key level after how to respect to key level after trend continue to up trend you can entry ,so this is my opinion only .
When 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
