ORLY finds buyers around 315.79 for the third day in a row
Moving higher for the 7th day in a row, ORLY ended the week 2.26% higher at 318.94 after edging higher $0.16 (0.05%) today. Today's closing price of 318.94 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Friday's trading range was $4.07 (1.29%), that's below last trading month's daily average range of $6.06. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 315.79 and 321.01 which it has been in now for the last three days.
Prices are trading close to the key resistance level at 321.01. The stock found buyers again today around 315.79 for the third trading day in a row after having found demand at 316.39 in the prior session and at 316.31 two days ago.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the nearby swing high at 321.01 where further buy stops might get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for O'Reilly Automotive
|White Candle||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|Up Close near high of period||TQ Pro Members Only|
|3 Consecutive Higher Closes||TQ Pro Members Only|
|Bullish Short Candle||TQ Pro Members Only|
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