Antonsb

GOOD LONG OPPORTUNITY

Long
NYSE:ABG   Asbury Automotive Group Inc
Reasons for trade
1.Lower end of channel
2.Previous resistance may act as support.
3.50 EMA that the stock usually retraces
4.Stockasticks oversold.
R/R is almost 3-1 aim for 119 with SL at 98.5
will adjust accordingly with the open.Price may move lower to 100-101 but its still ok to open here for me.No holding through earnings .
Trade active
Comment: forgot to point out also that this level was the lowest Bollinger as well as 61.8 fibbo.
Trade active: price moving lower still expect a test of 99-100 and tland then up
Trade closed: stop reached: Got stopped out with a small gap.Well thats trading.Still i think this will be a good long soon but from here we wait for the market to correct l.
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