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2019 - Self Improvement

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Currently looking to short ORLY. The market is bearish right now and I believe ORLY will follow suite. The stock is in a very large bump and run formation, while also being in a symmetrical triangle. I expect for a breakout to be downward where I'll pick up a position, then add to it on a minor pullback as it hits the moving average. The target price is calculated for 291 by subtracting the highest high and lowest low of the symmetrical triangle then subtracting that from the breakout which should be around the 336 range. But I should put a stop sell for a chunk of my position around 294 considering nearing support around 293. Then afterwards sell as it nears the trending support line.

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The formation ended up breaking out to the up side so that was a surprise. But if you got in on it, the formation is behaving perfectly and it hit the top today so expect a pullback or maybe even a reverse now. It matched the predicted price target for an upbreak and had a losing day today. Now we just have to wait and see where the stock is going to take us