Elliott Wave Technical Analysis: O'Reilly Automotive Inc.

macbook pro on black table

Image Source: Unsplash
 

O'Reilly Automotive Inc., Elliott Wave Technical Analysis 

O'Reilly Automotive Inc., (Nasdaq: ORLY): Daily Chart, 2 March 2023. 

ORLY Stock Market Analysis: At this point, the overall count has changed as we are either in wave {ii} of 3 or else in wave {c} of 2.  

ORLY Elliott Wave Count:  Wave {ii} of 3. 

ORLY Technical Indicators: Below 20EMA average.  

ORLY Trading Strategy: Looking for a bottom in wave {ii} to then look for longs.

Analyst: Alessio Barretta

O'Reilly Automotive Inc., ORLY: 4-hour Chart, 2 March 2023.

O'Reilly Automotive Inc., Elliott Wave Technical Analysis 

ORLY Stock Market Analysis: Looking for a three wave move in wave {ii} to be nearly completed, to then look for additional longs as we are also near the volume point of control. 

ORLY Elliott Wave count:  Wave (c) of {ii}. 

ORLY Technical Indicators: In between averages 

ORLY Trading Strategy: Looking for a bottom in wave (c) to then look for longs.


More By This Author:

Elliott Wave Technical Analysis: NEO / U.S. Dollar - Thursday, March 2
U.S. Stock Market Elliott Wave Technical Analysis
Elliott Wave Technical Analysis: Intuitive Surgical Inc. - Wednesday, March 1

Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.