Auto Parts Distributor Sets up Bear Flag Breakdown
Genuine Parts (GPC) shares are bear flagging after seeing a rejection near the 55 and 200 day MA’s at the top of monthly value and with the market looking slippery short setups are really increasing. GPC can break down to retest value area low near 133.50 and if things get ugly then the VPOC target at 128.60 is likely. A close back over 143 would invalidate the short setup.
