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.

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Comments

[Craig Ferguson]

ORLY looks like it is really trying to hold on to that 200 period moving average. But, it looks bearish on the weekly chart (head and shoulders pattern possibly). I wonder if it will fall and try to fill that gap made back in late October (kicker). Interesting chart!