Dec. 15 at 5:46 AM
Actionable Trade Alert for
$ORLY:
Market Context:
$ORLY is currently trading at
$94.11, with a low RSI of 28.18 indicating oversold conditions, suggesting a potential reversal. The stock is below its 30-day and 50-day moving averages (MA30 at 97.71 and MA50 at 98.71), indicating bearish sentiment but a possible bounce back is on the horizon.
Directional Bias: Given the RSI and proximity to the 60D Low of
$90.18, we anticipate a bullish reversal. The stock has room to move up towards its 60D High of
$108.72.
Trade Plan:
- Suggested Entry:
$94.50 (slightly above the last close to confirm upward momentum)
- Stop Loss:
$90.00 (below the 60D Low for risk management)
- Take Profit Targets:
1.
$98.00 (4% gain)
2.
$102.00 (7.5% gain)
3.
$110.00 (17% gain)
This trade plan offers a solid risk-reward ratio with a potential for over 17% ROI at the third target. Monitor closely for price action confirmation.
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