Chart says it all 33.xx was the double bottom and has passed a strong resistance. Tax season is here and numbers would be great.
Bill Gates has a great amount of shares in this company and hey they might partner up with TSLA.
Hit like if you are agree with the chart and I would love to see other peoples opinion.
Stay positive.
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
$AN AutoNation looking oversold on the weekly chart bouncing off long term support around $39 this week. Expecting further recovery in the medium term. Targeting $48-$50 area by January.
Looking for a little support at Target-1 area. But I think within the next 40 days, it should also drop to the lower Target-2 area.
Initial stop is above the diagonal trend line.
I am long AN $38.00 puts that expire ten days after the next earnings and revenue release. I expect the numbers to be poor, and I expect that the stock will sell off even more after this release. However, I got a message asking if I thought the market will go lower from here. Likely, not until the release. But, I will take if if it does go lower.
The consumer is slowing. Lending is cramping up. Used car prices are falling. Auto Nation has no chance of hitting their earnings expectation . With a $40.00 price, buying a $38.00 put with an expiration just past the earnings release, August 8th release, August 18th expiry date, the $38.00 put is bid at $1.35. That is a very easy long put position.
