LAD has had strong growth all year and has beat their quarterlies. They have the momentum to reach $175, barring any overall, end-of-the-year market correction.
NOTE: Not trading advice. Please research your trades accordingly.
Hi, today we are going to talk about Lithia Motors and its current landscape.
Lithia Motors has been having a good year, the auto retail company has been quite prominent in the sector, with solid fundamentals, the company can continue to be benefited from the changes that e-commerce has inflicted on the automotive retail industry, which has been responsible for a...
My trading software has detected a possible bullish pennant in LAD. Besides, the price is testing support with a "long history" (the blue horizontal line). There is a high chance that the price will continue north. Consider buying with a stop-loss below the horizontal support line.
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Rules:
Anything can happen - Stay neutral.
Always define your stop loss. Trade with your own risk.
We trade only when price action shows a "reversal pattern" within our predefined zones = "Trend + Zone + Reversal".
This reversal pattern typically will be seen on 1 or 5 minutes chart.
No trade if there is no reversal pattern.
Be patient.
Good luck.
Signals:
1-breakout of strong inclined resistance
2-double bottom
3-potential pennant
Buy 86.00 breakout of pennant's top line
Stop 81.60 (-2 tics of current fractal's low)
Target 99.00 (sizing targeting)
Risk\Return ratio 1:3
We do have the slower moving average going up. The faster moving averages crossed above the middle one yesterday. Today we break above the maximum price of yesterday, signaling the entry.
My stop is below the 83.84 and my target in 93.12, same size of the last upmove.
