ORLY Archives | Right Side Of The Chart

Short Trade Ideas Updated

The following trade ideas have been removed from the Active Short Trades categories as they have either exceeded their previous suggested stops (or any reasonable stop, if none suggested) or the stock simply no longer looks to offer an attractive R/R at this time. Some of these trades may have already hit one or more profit targets while others did not. Most trade ideas on RSOTC are immediately removed from the Active Trades category upon reaching the final profit [...]

2014-07-09T18:52:33+00:00Jul 9, 2014 6:52pm|Categories: Completed Trades - Short|Tags: ABG, AVGO, FCH, GMCR, GRA, GTAT, HAIN, HON, LUV, MFC, MIC, MRK, MU, NFLX, NTRS, ORLY, PAA, PRAA, RAD, SNDK, SPB, SSI, SUSS, SYNA, TAN, WFC, XOM, YELP, YUM, Z|Comments Off

ORLY Short Entry & Setup

ORLY (O'Reilly Automotive Inc) looks like an objective short following yesterday's breakdown below this yellow support line which also follows the recent breakdown below the white ascending price channel (complete with negative divergences in place at the recent highs). My first price target will be the primary uptrend line, which can be viewed on the 5-year daily chart below. T2 at 107.94, is placed just above the green horizontal support level (to help assure a fill). With all but the shortest-term trend indicators still on buy signals, I'd have to favor T1 at this time. However, the bearish divergences & extreme [...]

2014-01-08T22:04:08+00:00Dec 5, 2013 9:32am|Categories: Completed Trades - Short|Tags: ORLY|Comments Off