PAG broke out of a cup and handle pattern!

NYSE:PAG   Penske Automotive Group, Inc.
* Strong earnings quarter over quarter
* Strong up trend
* Broke out of a 4 month consolidation
* During the consolidation it formed a cup and handle
* The handle consolidated for 6 weeks before price broke out with higher than average volume
* Pays out dividends with a Payout ratio of 14.50% which means the company has a tonne of room to grow and possibly increase dividends in the future.

Trade Idea:
* The price gaped up with more volume than average.
* This may consolidate above the $93.45 area so look for an entry around there


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.