(SAH) Trading Advice

September 17, 2024, 04:02 am ET, BY David D.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SAH

• Buy SAH slightly over 54.19 target 59.02 stop loss @ 54.03 Details

The technical summary data tells us to buy SAH near 54.19 with an upside target of 59.02. This data also tells us to set a stop loss @ 54.03 to protect against excessive loss in case the stock begins to move against the trade. 54.19 is the first level of support below 55.51 , and by rule, any test of support is a buy signal. In this case, support 54.19 would be being tested, so a buy signal would exist.

• Short SAH slightly under 59.02, target 54.19, stop loss @ 59.19 Details

The technical summary data is suggesting a short of SAH as it gets near 59.02 with a downside target of 54.19. We should have a stop loss in place at 59.19though. 59.02 is the first level of resistance above 55.51, and by rule, any test of resistance is a short signal. In this case, if resistance 59.02 is being tested, so a short signal would exist.

Swing Trading Plans for SAH

• Buy SAH slightly over 59.02, target 64.02, Stop Loss @ 58.85 Details

If 59.02 begins to break higher, the technical summary data tells us to buy SAH just slightly over 59.02, with an upside target of 64.02. The data also tells us to set a stop loss @ 58.85 in case the stock turns against the trade. 59.02 is the first level of resistance above 55.51, and by rule, any break above resistance is a buy signal. In this case, 59.02, 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 SAH slightly near 59.02, target 54.93, Stop Loss @ 59.19. Details

The technical summary data is suggesting a short of SAH if it tests 59.02 with a downside target of 54.93. We should have a stop loss in place at 59.19 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, 59.02, 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 SAH

• Buy SAH slightly over 57.3, target 59.02, Stop Loss @ 57.17 Details

If 57.3 begins to break higher, the technical summary data tells us to buy SAH just slightly over 57.3, with an upside target of 59.02. The data also tells us to set a stop loss @ 57.17 in case the stock turns against the trade. 57.3 is the first level of resistance above 55.51, and by rule, any break above resistance is a buy signal. In this case, 57.3, 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 SAH slightly near 57.3, target 55.33, Stop Loss @ 57.43. Details

The technical summary data is suggesting a short of SAH if it tests 57.3 with a downside target of 55.33. We should have a stop loss in place at 57.43 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, 57.3, 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 Sonic Automotive Inc. (SAH) available here: SAH.

SAH Ratings for September 17:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Strong
P1	0	0	54.19
P2	55.33	51.34	59.02
P3	57.3	54.93	64.02

AI Generated Signals for SAH

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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 Sonic Automotive Inc. (NYSE: SAH) 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 SAH 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 SAH 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 SAH too.  All of these are offered below the Summary Table.