O'Reilly Automotive Bearish Moving Average Crossover Alert (ORLY)

Published on Fri, 04/05/2013 - 11:15
By Peter Chu in Moving average crossovers, ORLY, moving crosses, nasdaq:orly, o'reilly automotive

O'Reilly Automotive (NASDAQ:ORLY) crossed under its 10-day moving average of $103.17 on a volume of 196K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

There is potential upside of 7.1% for shares of O'Reilly Automotive based on a current price of $102.00 and an average consensus analyst price target of $109.26. The stock should discover initial support at its 50-day moving average (MA) of $100.50 and subsequent support at its 200-day MA of $91.00.

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.

In the past 52 weeks, O'Reilly Automotive share prices have been bracketed by a low of $54.98 and a high of $107.13 and are now at $102.00, 86% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

By Peter Chu
pchu@fnno.com

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