Is $PAG recovering from its pull back?
Notes:
* Strong up trend on all time frames
* Great earnings track record
* Pays out dividends
* Coming up on the right side of its base
* Basing for the past ~9 months and creating a base within a base
* Just breaking above the ~112 (historical resistance weekly chart) area with higher than average volume and bullish price action
* In the Automotive industry which is pretty hot right now
* Using the 50 day line as a dynamic level of support for the past several sessions and now bouncing off with higher than average volume
Technicals:
Sector: Consumer Cyclical - Auto & Truck Dealerships
Relative Strength vs. Sector: 2.12
Relative Strength vs. SP500: 2.92
U/D Ratio: 1.02
Base Depth: 20.61%
Distance from breakout buy point: -8.45%
Volume 38.61% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just bouncing off of its 50 day line with higher than average volume
* If you're looking for a better entry you can look for one around the ~110.5 area
* This stock usually has local tops when the price closes around 12.3% above its 50 EMA
* Consider selling into strength if the price closes 12.1% to 12.5% (or higher) above its 50 EMA
* The last closing price is 5.63% away from its 50 EMA
* Strong up trend on all time frames
* Great earnings track record
* Pays out dividends
* Coming up on the right side of its base
* Basing for the past ~9 months and creating a base within a base
* Just breaking above the ~112 (historical resistance weekly chart) area with higher than average volume and bullish price action
* In the Automotive industry which is pretty hot right now
* Using the 50 day line as a dynamic level of support for the past several sessions and now bouncing off with higher than average volume
Technicals:
Sector: Consumer Cyclical - Auto & Truck Dealerships
Relative Strength vs. Sector: 2.12
Relative Strength vs. SP500: 2.92
U/D Ratio: 1.02
Base Depth: 20.61%
Distance from breakout buy point: -8.45%
Volume 38.61% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just bouncing off of its 50 day line with higher than average volume
* If you're looking for a better entry you can look for one around the ~110.5 area
* This stock usually has local tops when the price closes around 12.3% above its 50 EMA
* Consider selling into strength if the price closes 12.1% to 12.5% (or higher) above its 50 EMA
* The last closing price is 5.63% away from its 50 EMA