Thursday, May 27, 2010

ORLY

This stock has a very attractive base and is on the verge of a break out. It is also part of a powerful group that all are currently exhibiting out standing relative strenght. One of its peer members, AZO, announced better than expected earnings two days ago and had a nice break out to new highs.



I do not plan to trade it personally. However, it looks like a nice stock for CANSLIM proponents to add to their watchlists. Here is the chart:





After breaking out a stage 1 basing pattern in April during the previous uptrend, ORLY is currently forming a high tight flag or flat base pattern. According to the CANSLIM rules it is currently in a buyable range except that the overall markets have not yet confirmed a new up trend. Looks like a bit of a slow move but still a nice set up.

No comments:

Post a Comment