When the Price of Group 1 Automotive GPI Talks, People Listen

August 17, 2022, 19:15 pm ET, BY Tyler- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Group 1 Automotive (NYSE: GPI) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for GPI can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for GPI

• Buy GPI slightly over 174.85 target 194.13 stop loss @ 174.35 Details

The technical summary data tells us to buy GPI near 174.85 with an upside target of 194.13. This data also tells us to set a stop loss @ 174.35 to protect against excessive loss in case the stock begins to move against the trade. 174.85 is the first level of support below 192.61 , and by rule, any test of support is a buy signal. In this case, support 174.85 is being tested, a buy signal would exist.

• Short GPI under 194.13, target 174.85, stop loss @ 194.69 Details

The technical summary data is suggesting a short of GPI as it gets near 194.13 with a downside target of 174.85. We should have a stop loss in place at 194.69though. 194.13 is the first level of resistance above 192.61, and by rule, any test of resistance is a short signal. In this case, if resistance 194.13 is being tested, a short signal would exist.

Swing Trading Plans for GPI

• Buy GPI slightly over 194.13, target 195.31, Stop Loss @ 193.57 Details

If 194.13 begins to break higher, the technical summary data tells us to buy GPI just slightly over 194.13, with an upside target of 195.31. The data also tells us to set a stop loss @ 193.57 in case the stock turns against the trade. 194.13 is the first level of resistance above 192.61, and by rule, any break above resistance is a buy signal. In this case, 194.13, 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 GPI near 194.13, target 187.90, Stop Loss @ 194.69. Details

The technical summary data is suggesting a short of GPI if it tests 194.13 with a downside target of 187.90. We should have a stop loss in place at 194.69 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, 194.13, 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 GPI

• Buy GPI slightly over 194.13, target 195.31, Stop Loss @ 193.68 Details

If 194.13 begins to break higher, the technical summary data tells us to buy GPI just slightly over 194.13, with an upside target of 195.31. The data also tells us to set a stop loss @ 193.68 in case the stock turns against the trade. 194.13 is the first level of resistance above 192.61, and by rule, any break above resistance is a buy signal. In this case, 194.13, 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 GPI near 194.13, target 192.21, Stop Loss @ 194.58. Details

The technical summary data is suggesting a short of GPI if it tests 194.13 with a downside target of 192.21. We should have a stop loss in place at 194.58 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, 194.13, 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.

GPI Ratings for August 17:

Term →	Near	Mid	Long
Rating	Strong	Strong	Neutral
P1	0	0	155.58
P2	192.21	187.90	174.85
P3	198.74	195.31	194.13

Support and Resistance Plot Chart for GPI

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