Trend Tracker for Autonation $AN

July 10, 2023, 06:45 am ET, BY Jake B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for AN

• Buy AN slightly over 159.04 target n/a stop loss @ 158.58. Details

The technical summary data tells us to buy AN near 159.04, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 158.58 to protect against excessive loss in case the stock begins to move against the trade. 159.04 is the first level of support below 171.55, and by rule, any test of support is a buy signal. In this case, if support 159.04 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for AN

• Buy AN slightly over 174.48, target n/a, Stop Loss @ 173.98 Details

If 174.48 begins to break higher, the technical summary data tells us to buy AN just slightly over 174.48, with an upside target of n/a. The data also tells us to set a stop loss @ 173.98 in case the stock turns against the trade. 174.48 is the first level of resistance above 171.55, and by rule, any break above resistance is a buy signal. In this case, 174.48, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AN slightly near 174.48, target 170.82, Stop Loss @ 174.98. Details

The technical summary data is suggesting a short of AN if it tests 174.48 with a downside target of 170.82. We should have a stop loss in place at 174.98 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 174.48, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for AN

• Buy AN slightly over 173.60, target 174.48, Stop Loss @ 173.19 Details

If 173.60 begins to break higher, the technical summary data tells us to buy AN just slightly over 173.60, with an upside target of 174.48. The data also tells us to set a stop loss @ 173.19 in case the stock turns against the trade. 173.60 is the first level of resistance above 171.55, and by rule, any break above resistance is a buy signal. In this case, 173.60, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AN slightly near 173.60, target 171.48, Stop Loss @ 174.01. Details

The technical summary data is suggesting a short of AN if it tests 173.60 with a downside target of 171.48. We should have a stop loss in place at 174.01 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 173.60, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

This is a snapshot. Real Time Updates are available on our AN Page.

AN Ratings for July 10:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	126.76
P2	171.48	170.82	142.51
P3	173.60	174.48	159.04

Support and Resistance Plot Chart for AN

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The data for Autonation (NYSE: AN) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for AN change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if AN is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for AN too.  All of these are offered below the Summary Table.