How the price action of Autonation (AN) is used to our Advantage

Source: Stock Traders Daily

Longer Term Trading Plans for AN
  • Buy AN slightly slightly over 103.69 target 115.46 stop loss @ 103.39 Details
  • The technical summary data tells us to buy AN near 103.69 with an upside target of 115.46. This data also tells us to set a stop loss @ 103.39 to protect against excessive loss in case the stock begins to move against the trade. 103.69 is the first level of support below 106.99 , and by rule, any test of support is a buy signal. In this case, support 103.69 would be being tested, so a buy signal would exist.

  • Short AN slightly under 115.46, target 103.69, stop loss @ 115.79 Details
  • The technical summary data is suggesting a short of AN as it gets near 115.46 with a downside target of 103.69. We should have a stop loss in place at 115.79though. 115.46 is the first level of resistance above 106.99, and by rule, any test of resistance is a short signal. In this case, if resistance 115.46 is being tested, so a short signal would exist.

Swing Trading Plans for AN
  • Buy AN slightly slightly over 108.24, target 115.46, Stop Loss @ 107.93 Details
  • If 108.24 begins to break higher, the technical summary data tells us to buy AN just slightly over 108.24, with an upside target of 115.46. The data also tells us to set a stop loss @ 107.93 in case the stock turns against the trade. 108.24 is the first level of resistance above 106.99, and by rule, any break above resistance is a buy signal. In this case, 108.24, 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 108.24, target 103.85, Stop Loss @ 108.55. Details
  • The technical summary data is suggesting a short of AN if it tests 108.24 with a downside target of 103.85. We should have a stop loss in place at 108.55 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, 108.24, 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 slightly over 108.24, target 115.46, Stop Loss @ 107.99 Details
  • If 108.24 begins to break higher, the technical summary data tells us to buy AN just slightly over 108.24, with an upside target of 115.46. The data also tells us to set a stop loss @ 107.99 in case the stock turns against the trade. 108.24 is the first level of resistance above 106.99, and by rule, any break above resistance is a buy signal. In this case, 108.24, 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 108.24, target 105.86, Stop Loss @ 108.49. Details
  • The technical summary data is suggesting a short of AN if it tests 108.24 with a downside target of 105.86. We should have a stop loss in place at 108.49 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, 108.24, 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.

AN Ratings for September 22:

Term →Near Mid Long
Rating Weak Weak Neutral
P1 0 0 103.69
P2 105.86 103.85 115.46
P3 108.15 108.24 127.05

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AN Long Term Analysis for September 22 2022


AN Swing Trading Analysis for September 22 2022


AN Day Trading Analysis for September 22 2022

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Autonation (NYSE: AN) data table below can help you with price action, and we have more details too. Trading plans for AN are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.