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OReilly Automotive Inc.(ORLY:NASDAQ) Elliott Wave Technical Analysis 19 January 23


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OReilly Automotive Inc., Elliott Wave Technical Analysis 

OReilly Automotive Inc., (ORLY:NASDAQ): Daily Chart, 19 January 23, 

ORLY Stock Market Analysis: Looking for a larger retracement into wave 2 to possibly take us back to fill the gap around 780$. 

ORLY Elliott Wave Count:  Wave {c} of 2. 

ORLY Technical Indicators: In between averages.  

ORLY Trading Strategy: Looking for the end of wave 2 to enter long. 

TradingLounge Analyst: Alessio Barretta

 

ORLY_1_19.png.9c9b2378646c4811074fc7666a11998b.png

 

 

 

OReilly Automotive Inc., ORLY: 4-hour Chart, 19 January 23, 

OReilly Automotive Inc., Elliott Wave Technical Analysis 
ORLY Stock Market Analysis: Looking for downside into wave {c}, unfolding as expected. The count the way it is right now would only allow for a wave (v) shorter than (iii) therefore it’d mean having a short wave {c}. That means we could possibly be in wave (i) of {c} instead. 

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

ORLY Technical Indicators: Below all averages but the 200EMA. 

ORLY Trading Strategy: Looking for downside to ends wave {c}. 

ORLY_4H.png.6083acf47798c90d72567d028496a110.png

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