SAH is setting up nicely for a short. Reward/risk is 4.36 with stop loss and first profit target as pictured, assuming entry orders are scattered across the red short zone.
$SAH looks ready to go
I have considered two possible entries according to the behaviour of the price in the coming days.
Looking at the markets I would not stay for so long ridding the wave and I will take profits in a Profit/Risk of 3 but it you want the long profit levels:
TP1: 64
TP2: 71
Read this article here
In my country, where there are plenty of taxis and now with Grab and Uber, the incentives to get a car, even a used car (we call it 2nd hand car) has plunged even further (at least for me). Getting around is really easy with MRT and public buses. Occasionally, if I am out with my family , we might take a Grab taxi.
But now, these Grab...
Entry level $35.00 = Target price $38.00 = Stop loss $34.00
Morgan Stanley raised price target from $31- $22
P/E ratio very reasonable at 12.12
Short interest could drive the stock higher at 16%.
Company profile
Sonic Automotive, Inc. operates as a automotive retailer. Its services include sales of both new and used cars and light trucks, sales of replacement...
