Learn to Evaluate O'reilly Automotive (ORLY) using the Charts

July 08, 2022, 08:00 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  O'reilly Automotive (NASDAQ: ORLY) report below can help you understand how to do this. The trading plans for ORLY, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for ORLY

• Buy ORLY slightly over 622.85 target 681.97 stop loss @ 621.05 Details

The technical summary data tells us to buy ORLY near 622.85 with an upside target of 681.97. This data also tells us to set a stop loss @ 621.05 to protect against excessive loss in case the stock begins to move against the trade. 622.85 is the first level of support below 661.62 , and by rule, any test of support is a buy signal. In this case, support 622.85 would be being tested, so a buy signal would exist.

• Short ORLY under 681.97, target 622.85, stop loss @ 683.94 Details

The technical summary data is suggesting a short of ORLY as it gets near 681.97 with a downside target of 622.85. We should have a stop loss in place at 683.94though. 681.97 is the first level of resistance above 661.62, and by rule, any test of resistance is a short signal. In this case, if resistance 681.97 is being tested, so a short signal would exist.

Swing Trading Plans for ORLY

• Buy ORLY slightly over 622.85, target 647.17, Stop Loss @ 621.05 Details

If 622.85 begins to break higher, the technical summary data tells us to buy ORLY just slightly over 622.85, with an upside target of 647.17. The data also tells us to set a stop loss @ 621.05 in case the stock turns against the trade. 622.85 is the first level of resistance above , and by rule, any break above resistance is a buy signal. In this case, 622.85, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ORLY near 622.85, target n/a, Stop Loss @ 624.65. Details

The technical summary data is suggesting a short of ORLY if it tests 622.85 with a downside target of n/a. We should have a stop loss in place at 624.65 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 622.85, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ORLY

• Buy ORLY slightly over 672.07, target 681.97, Stop Loss @ 670.5 Details

If 672.07 begins to break higher, the technical summary data tells us to buy ORLY just slightly over 672.07, with an upside target of 681.97. The data also tells us to set a stop loss @ 670.5 in case the stock turns against the trade. 672.07 is the first level of resistance above 661.62, and by rule, any break above resistance is a buy signal. In this case, 672.07, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ORLY near 672.07, target 661.61, Stop Loss @ 673.64. Details

The technical summary data is suggesting a short of ORLY if it tests 672.07 with a downside target of 661.61. We should have a stop loss in place at 673.64 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 672.07, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

ORLY Ratings for July 08:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	622.85
P2	642.45	647.17	681.97
P3	661.61	672.07	738.32

Support and Resistance Plot Chart for ORLY

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.