Skipper86

Untouched by the Recent Market Selloff, New ATH

Long
NASDAQ:ORLY   O'Reilly Automotive, Inc
This perpetual bull-run stock has rallied to a new ATH while the rest of the market was and may still be in turmoil. The MACD looks strong and stochastics suggest rally potential. This current impulse appears to be a 5th Elliott wave . Financials show a growth trajectory and a higher P/E has historically been supported by the market. The price action is colorized using my "MACD Hybrid BSH" pine script indicator which is an open source indicator you can find in my profile. I've had 2 shares of this in my retirement account since it was trading at $187.11 and I'll probably add another 1 or 2 tomorrow for very long-term holding. I will also be watching for day trading opportunities with a heavily-bullish bias.
Trade closed manually: I added a share to my IRA and am forgetting about it until I'm retired. I now realize that this stock is not liquid enough for it to makes sense for day trading. Also, the previous high appears to be acting as resistance.