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Old 01-08-2012, 06:58 PM   Nav to Top  #1
jspringr
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Default O'Reilly Automotive (ORLY)

ORLY is rated 98 of 99 by Investors.com and is in one of the top sectors (retail wholesale automotive parts) ranked 3 of 197 market sectors. It has been in a bullish trend since August. It seems to have started a new trading range on December 12. Last Tuesday it went down on above average volume and closed at the day's low. This suggests weakness as there was a complete absence of demand. But the next two days were up and Friday's down bar was low volume and very weak. Wait for either another weak down bar as long as it stays above Thursday's low - or wait for it to first move above Tuesday's high before looking for an entry.
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