Where are the Opportunities in (ABG)

February 28, 2024, 18:24 pm ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ABG

• Buy ABG slightly over 196.02 target 216.38 stop loss @ 195.45 Details

The technical summary data tells us to buy ABG near 196.02 with an upside target of 216.38. This data also tells us to set a stop loss @ 195.45 to protect against excessive loss in case the stock begins to move against the trade. 196.02 is the first level of support below 208.29 , and by rule, any test of support is a buy signal. In this case, support 196.02 would be being tested, so a buy signal would exist.

• Short ABG slightly under 216.38, target 196.02, stop loss @ 217 Details

The technical summary data is suggesting a short of ABG as it gets near 216.38 with a downside target of 196.02. We should have a stop loss in place at 217though. 216.38 is the first level of resistance above 208.29, and by rule, any test of resistance is a short signal. In this case, if resistance 216.38 is being tested, so a short signal would exist.

Swing Trading Plans for ABG

• Buy ABG slightly over 212.66, target 216.38, Stop Loss @ 212.05 Details

If 212.66 begins to break higher, the technical summary data tells us to buy ABG just slightly over 212.66, with an upside target of 216.38. The data also tells us to set a stop loss @ 212.05 in case the stock turns against the trade. 212.66 is the first level of resistance above 208.29, and by rule, any break above resistance is a buy signal. In this case, 212.66, 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 ABG slightly near 212.66, target 205.23, Stop Loss @ 213.27. Details

The technical summary data is suggesting a short of ABG if it tests 212.66 with a downside target of 205.23. We should have a stop loss in place at 213.27 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, 212.66, 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 ABG

• Buy ABG slightly over 209.64, target 212.66, Stop Loss @ 209.15 Details

If 209.64 begins to break higher, the technical summary data tells us to buy ABG just slightly over 209.64, with an upside target of 212.66. The data also tells us to set a stop loss @ 209.15 in case the stock turns against the trade. 209.64 is the first level of resistance above 208.29, and by rule, any break above resistance is a buy signal. In this case, 209.64, 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 ABG slightly near 209.64, target 205.23, Stop Loss @ 210.13. Details

The technical summary data is suggesting a short of ABG if it tests 209.64 with a downside target of 205.23. We should have a stop loss in place at 210.13 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, 209.64, 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.

Check the time stamp on this data. Updated AI-Generated Signals for Asbury Automotive Group Inc (ABG) available here: ABG.

ABG Ratings for February 28:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Neutral
P1	0	0	196.02
P2	209.64	205.23	216.38
P3	213.67	212.66	235.82

AI Generated Signals for ABG

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Asbury Automotive Group Inc (NYSE: ABG) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for ABG 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 ABG 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 ABG too.  All of these are offered below the Summary Table.