(ORLY) Long Term Investment Analysis

January 16, 2024, 03:10 am ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ORLY

• Buy ORLY slightly over 930.55 target 981.3 stop loss @ 927.86 Details

The technical summary data tells us to buy ORLY near 930.55 with an upside target of 981.3. This data also tells us to set a stop loss @ 927.86 to protect against excessive loss in case the stock begins to move against the trade. 930.55 is the first level of support below 953.06 , and by rule, any test of support is a buy signal. In this case, support 930.55 would be being tested, so a buy signal would exist.

• Short ORLY slightly under 981.3, target 930.55, stop loss @ 984.13 Details

The technical summary data is suggesting a short of ORLY as it gets near 981.3 with a downside target of 930.55. We should have a stop loss in place at 984.13though. 981.3 is the first level of resistance above 953.06, and by rule, any test of resistance is a short signal. In this case, if resistance 981.3 is being tested, so a short signal would exist.

Swing Trading Plans for ORLY

• Buy ORLY slightly over 981.3, target 1029.25, Stop Loss @ 978.47 Details

If 981.3 begins to break higher, the technical summary data tells us to buy ORLY just slightly over 981.3, with an upside target of 1029.25. The data also tells us to set a stop loss @ 978.47 in case the stock turns against the trade. 981.3 is the first level of resistance above 953.06, and by rule, any break above resistance is a buy signal. In this case, 981.3, 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 slightly near 981.3, target 946.97, Stop Loss @ 984.13. Details

The technical summary data is suggesting a short of ORLY if it tests 981.3 with a downside target of 946.97. We should have a stop loss in place at 984.13 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, 981.3, 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 956.29, target 981.3, Stop Loss @ 954.06 Details

If 956.29 begins to break higher, the technical summary data tells us to buy ORLY just slightly over 956.29, with an upside target of 981.3. The data also tells us to set a stop loss @ 954.06 in case the stock turns against the trade. 956.29 is the first level of resistance above 953.06, and by rule, any break above resistance is a buy signal. In this case, 956.29, 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 slightly near 956.29, target 947.18, Stop Loss @ 958.52. Details

The technical summary data is suggesting a short of ORLY if it tests 956.29 with a downside target of 947.18. We should have a stop loss in place at 958.52 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, 956.29, 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.

Check the time stamp on this data. Updated AI-Generated Signals for O'reilly Automotive Inc. (ORLY) available here: ORLY.

ORLY Ratings for January 16:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	930.55
P2	947.18	923.96	981.3
P3	956.29	946.97	1029.25

AI Generated Signals for ORLY

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Technically, O'reilly Automotive Inc. (NASDAQ: ORLY) provides opportunities for traders who are watching the price of the stock oscillate over time.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for ORLY change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if ORLY is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for ORLY too.  All of these are offered below the Summary Table.