Don't Ignore This Chart!

ORLY forms a triangle consolidation

After a decline from mid November to mid December, O'Reilly Automotive (ORLY) formed a triangle consolidation. The stock is holding up better that the S&P 500 since January, but a triangle break is required for the next directional signal.

100209orly Click this chart for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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