Cars.com is an automotive classified website focused on the United States that launched in June 1998 and now is the second largest automotive classified site. Its headquarters are located in Chicago, Illinois.
Hi Traders! This is our analysis for CARS, the chart looks very simple but very bullish!
- Price is currently located on a long term trend line (Yellow) which is working as a very strong support.
- Also backed by medium term trend support (purple).
- 100MA support + horizontal support.
- RSI is 45, in the past year RSI bounced of 40 level 7 times.
CARS.com is currently sitting under strong resistance
but may provide a nice opportunity in the days to come.
Major gap sits above.
Alert set for break above $13.50
Potential target $16.35
Measured move target $ 16.60
Gap fill target $17.90
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After huge move post earnings, the stock has consolidated and possibly found support
on the 200ma and horizontal support.
Will be looking for potential bounce to the $10.00 region where the Fibonacci GP has held as resistance previously.
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