25Jan
OReilly Automotive Inc. Elliott Wave Technical Analysis 24 January 2023
OReilly Automotive Inc. Elliott Wave Technical Analysis 24 January 2023
4Hour
OReilly Automotive Inc., ORLY: 4-hour Chart, January 24 2023,
OReilly Automotive Inc., Elliott Wave Technical Analysis
ORLY Stock Market Analysis: By looking at the 4H chart It looks like we could see further downside in wave (v) before resuming higher.
ORLY Elliott Wave count: Wave (iv) of {c}.
ORLY Technical Indicators: 200EMA acting as support.
ORLY Trading Strategy: Waiting for one more leg lower before either considering entering an extremely risky trade or else wait for upside confirmation.
Daily
OReilly Automotive Inc., Elliott Wave Technical Analysis
OReilly Automotive Inc., (ORLY:NASDAQ): Daily Chart, January 24 2023,
ORLY Stock Market Analysis: We are reacting off equality of {c} vs. {a}, however it is early to call this a bottom as we could continue lower.
ORLY Elliott Wave Count: Wave {c} of 2.
ORLY Technical Indicators: RSI entering oversold territory.
ORLY Trading Strategy: Looking for a break of wave {b} to start considering longs, or else enter long now having a very risky trade and a stop below 1.618 {c} vs. {a}.
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