By
Peter Mathers
of
Trading Lounge
Thursday, February 23, 2023 8:44 AM EST
OReilly Automotive Inc., Elliott Wave Technical Analysis
![](https://talkmarkets.com/contributor/david-marshall/user_content/ckimages/orig_capture_638127544464242576.webp)
OReilly Automotive Inc., (ORLY): Daily Chart, February 23.
ORLY Stock Market Analysis: It seems we topped in wave (iii) after breaking the previous top of wave {b}, looking for further upside into wave (iv).
ORLY Elliott Wave Count: Wave (iv) of {i}.
ORLY Technical Indicators: Above all averages.
ORLY Trading Strategy: Looking for a bottom in wave (iv) to then potentially add longs.
TradingLounge Analyst: Alessio Barretta
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_orly_2_23.webp)
OReilly Automotive Inc., ORLY: 4-hour Chart, February 23.
OReilly Automotive Inc., Elliott Wave Technical Analysis
ORLY Stock Market Analysis: Looking for a wave (iv) to be sideways, therefore we could have just ended wave a and I would now like to see a sideways movement.
ORLY Elliott Wave count: Wave (iv) of {i}.
ORLY Technical Indicators: 20EMa as support.
ORLY Trading Strategy: Looking for a bottom in wave (iv) to then potentially add longs.
![](https://talkmarkets.com/contributor/tradinglounge/user_content/ckimages/orig_orly_4h_638127464112133180.webp)
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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 ...
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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 trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
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