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Watch for AutoNation to Potentially Rebound After Falling 1.44% Yesterday

By David Diaz

AutoNation (NYSE:AN) traded in a range yesterday that spanned from a low of $43.87 to a high of $44.75. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $44.31 on volume of 505,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of AutoNation have traded between a low of $39.28 and a high of $66.63 and are now at $43.94, which is 12% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of AutoNation on February 6th, 2017 by issuing a Downtrend alert when the shares were trading at $48.83. Since that call, shares of AutoNation have fallen 8.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders autonation

Ticker(s): AN