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AutoNation Set to Pullback after Yesterday's Rally of 5.19% (AN)

Written on Tue, 07/27/2010 - 2:43am
By Chip Brian

AutoNation (NYSE:AN) traded in a range yesterday that spanned from a low of $23.30 to a high of $24.74. Yesterday, the shares gained 5.19%, which took the trading range above the 3-day high of $23.19 on volume of 2.7 million shares.
Shares of AutoNation are currently trading above their 50-day moving average (MA) of $20.12 and above their 200-day MA of $19.17. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of AutoNation and our subscribers were alerted to Buy on July 20, 2010 at $20.84. The stock has risen 16.8% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $23.19 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Auto Dealerships industry.

Keywords: autonation trading range stock news

Ticker(s): AN

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