Nov. 14 at 3:00 AM
$ORLY: The last close at
$98.35 indicates a position within the recent trading range, with the 60D high at
$108.72 and low at
$90.18. The RSI at 53.22 suggests a neutral momentum, indicating neither overbought nor oversold conditions. The price is below the 30-day moving average (MA30) of
$98.83, signaling potential bearish sentiment, while the 50-day moving average (MA50) at
$101.49 indicates resistance above.
Directional bias leans slightly bearish due to the proximity to MA30 and the recent high-low range.
Suggested trade plan:
- Entry:
$98.00 (below current close to confirm bearish sentiment)
- Stop:
$100.00 (above MA30 for risk management)
- Target 1:
$95.00 (near the 60D low)
- Target 2:
$92.00 (psychological support level)
Monitor for any changes in momentum indicators or significant price action.
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