ORLY has convincingly broken out of an 8 month range. Last week a bullish flag was confirmed on the weekly chart.
On the daily chart price gapped up on higher volume. Support is now around the 160 zone.
The gap was too soon to enter on a longer term strategy, due to the prolonged consolidation - it could have been a fakeout.
I will be waiting for a pullback followed by a further breakout before considering buying into this one.
On the daily chart price gapped up on higher volume. Support is now around the 160 zone.
The gap was too soon to enter on a longer term strategy, due to the prolonged consolidation - it could have been a fakeout.
I will be waiting for a pullback followed by a further breakout before considering buying into this one.