AN trade ideas
AN: Sort opportunityAn intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
$AN AutoNation Long-term Support$AN AutoNation looking oversold on the weekly chart bouncing off long term support around $39 this week. Expecting further recovery in the medium term. Targeting $48-$50 area by January.
AN ShortLooking for a little support at Target-1 area. But I think within the next 40 days, it should also drop to the lower Target-2 area.
Initial stop is above the diagonal trend line.
Buy auto valueBoth $FCAU and Schaeffler (SHA) are still good value plays in Europe. In the US $AN stands out with a PT of 48.95 and a SL of 38
Auto Nation pauses here before move lowerI am long AN $38.00 puts that expire ten days after the next earnings and revenue release. I expect the numbers to be poor, and I expect that the stock will sell off even more after this release. However, I got a message asking if I thought the market will go lower from here. Likely, not until the release. But, I will take if if it does go lower.
Auto Nation will miss next earnings release. How to profit.The consumer is slowing. Lending is cramping up. Used car prices are falling. Auto Nation has no chance of hitting their earnings expectation . With a $40.00 price, buying a $38.00 put with an expiration just past the earnings release, August 8th release, August 18th expiry date, the $38.00 put is bid at $1.35. That is a very easy long put position.
AUTONATION GOING UPA recent outbreak of doubtness has settled in this stock.
General investors started to go out like the paulative decreasing in volume shows.
Bullish hammer shows an attempt to determine a bottom.
