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After Yesterday's Rally of 1.36% Shares Could Potentially Pullback

By Shiri Gupta

O'Reilly Automotive (NASDAQ:ORLY) traded in a range yesterday that spanned from a low of $278.93 to a high of $284.66. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $278.78 on volume of 534,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of O'Reilly Automotive have traded between a low of $120.34 and a high of $284.66 and are now at $282.18, which is 134% above that low price. 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 4.2%. We continue to monitor ORLY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders o'reilly automotive

Ticker(s): ORLY