Today the autoparts companies got hammered because of the fantastic news delivered by ORLY
seekingalpha.com
GPC stood it's ground at the 38.20% retracement fibionacci level, at which the market already agreed it was a good entry point 3 times on the last 4 months.
If the terrible news from today didn't make it fall below this point we have a very strong support...
Stock could drop and be a good put play or bounce and be a great long or call play. This depends on market and Greece may cause the drop below the support!
GPC has spent most of 2014 in consolidation. The high of February proved to offer very strong resistance and price tested it a couple of times before finally breaking through. Once resistance had turned into support the uptrend has continued with some momentum.
On the daily chart there was a bit of stickiness around the $100 figure but now there is no specific...
