Just tighten you SL if your are having positions in Auto stocks. It seems that there may be some underperformance in coming days from this sector.
It is consolidating in small range for last 3 week. There can be trending move in either side in coming week. Bias is on long side as natural gas has already given a move, crude can be the next candidate.
It seems that it is trying to touch the breakdown line and it can go down again. It can be low risk entry point
The sector is underperforming since long and now it seems it has broken out but monthly closing is yet to come. And 2000 note circulation limitation will surely give negative impact on this sector hence if this jerk is born by this sector then there is huge upside here
It is at good support level. Already tested many time. Resistance is also tested many times. Break of any of the level can give good opportunities.
After breakout, it will give good outperformance. But wait till it confirm as if breakout is failed then there will sharp down side in this counter