Bearish Moving Average Cross by O'Reilly Automotive (ORLY)
O'Reilly Automotive (NASDAQ:ORLY) crossed under its 10-day moving average of $277.11 on a volume of 282K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
O'Reilly Automotive share prices have moved between a 52-week high of $292.84 and a 52-week low of $120.34 and are now trading 129% above that low price at $275.31 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.2%.
SmarTrend recommended that subscribers consider buying shares of O'Reilly Automotive on June 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $267.57. Since that recommendation, shares of O'Reilly Automotive have risen 3.9%. We continue to monitor ORLY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses o'reilly automotive