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Possible Bearish Inside Day Candle Pattern Detected for O'Reilly Automot (:ORLY)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in O'Reilly Automot (:ORLY) based on the price action in the company's shares. Yesterday's price range of $362.13 and $367.90 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of O'Reilly Automot may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of O'Reilly Automot have traded between a low of $0.00 and a high of $0.00 and closed yesterday at $366.14, which is -100% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

O'Reilly Automotive, Inc. retails and supplies automotive aftermarket parts, tools, supplies, equipment, and accessories. The Company sells its products to do-it-yourself customers and professional mechanics or service technicians. O'Reilly operates stores throughout the United States.

Based on a current price of $366.14, O'Reilly Automot is currently 22.0% above its average consensus analyst price target of $285.68. The stock should hit resistance at its 50-day moving average (MA) of $382.05, as well as support at its 200-day MA of $354.09.

SmarTrend is tracking the current trend status for O'Reilly Automot and will alert subscribers who have ORLY in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle :orly o'reilly automot

Ticker(s): ORLY