ORLY finds buyers around 315.79 for the third day in a row


O'Reilly Automotive (ORLY) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
ORLY finds buyers around 315.79 for the third day in a row
ORLY dominated by bulls lifting the market higher throughout the day
ORLY closes higher for the 7th day in a row
ORLY rises to highest close since Inception
ORLY stuck within tight trading range
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

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.

Daily chart for ORLY
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 321.01 where further buy stops might get activated.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when O'Reilly Automotive traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 285.726.43 2.30%
INDU 25,558.73396.32 1.58%
CRUDE 65.450.55 0.85%
CAC 5,349.0243.80 0.83%
SPX 2,840.6922.32 0.79%
DXY 96.535-0.045 -0.05%
GOLD 1,181.0-0.8 -0.07%
NATGAS 2.911-0.028 -0.95%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.22 0.77
0.79%
ACN 10 day candlestick chart for ACN162.89 2.48
1.55%
ADBE 10 day candlestick chart for ADBE248.89 -1.63
-0.65%
AAP 10 day candlestick chart for AAP159.49 1.46
0.92%
AES 10 day candlestick chart for AES13.87 0.38
2.82%
AET 10 day candlestick chart for AET198.47 1.18
0.60%
AFL 10 day candlestick chart for AFL46.50 0.21
0.45%
AMG 10 day candlestick chart for AMG146.29 0.86
0.59%
A 10 day candlestick chart for A65.50 0.77
1.19%
ABT 10 day candlestick chart for ABT64.16 0.69
1.09%