CAR
- First time doing a written analysis on CAR
- Has a history of good uptrends over the years
- Recent price action since mid-Aug has seen the stock gone up quite far from the short-term support
- I was hoping to see a stronger pullback to the short-term support for a better setup for entry
- This week’s price action shows signs of a reversal and the stock looks to be in a rebound
- A successful rebound would be near 26 levels -> due to sharp retracement at the beginning of the retracement wave
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before entry near 26 levels
- First time doing a written analysis on CAR
- Has a history of good uptrends over the years
- Recent price action since mid-Aug has seen the stock gone up quite far from the short-term support
- I was hoping to see a stronger pullback to the short-term support for a better setup for entry
- This week’s price action shows signs of a reversal and the stock looks to be in a rebound
- A successful rebound would be near 26 levels -> due to sharp retracement at the beginning of the retracement wave
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before entry near 26 levels