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
Disclaimer
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.