All set for 230?It looks bullish as it entered above the yellow trend line, it could hit 230 as long as it stays above the yellow line. It could retest high 170s before its leg up. It it falls below the yellow line, then its more bearish.
Autonation
AN AutoNation Options Ahead of EarningsI`m targeting a Double Bottom this year!
Looking at the AN AutoNation options chain ahead of earnings , I would buy the $95 strike price Puts with
2023-7-21 expiration date for about
$2.50 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
US Stock In Play: $AN$AN - Auto & Truck Dealerships
after 6 mths, $AN still remains in my actionable watchlist at $126.45. the prolonged period of consolidation from its ATH in Oct'21 turned this into a very attractive position trade proposition.
price tightening into triangle range since April
5/25/22 ANAuto Nation ( NYSE:AN )
Sector: Retail Trade (Specialty Stores)
Market Capitalization: $6.427B
Current Price: $114.84
Breakout price: $118.10
Buy Zone (Top/Bottom Range): $109.60-$96.90
Price Target: $142.80-$144.00
Estimated Duration to Target: 399-407d
Contract of Interest: $AN 1/20/23 110cc
Trade price as of publish date: $20.10/contract
US Stock In Play: $AN$AN has been in my WL since nov'21 throughout its decline. eps and sales growth is impeccable, there is nothing to fault by the look of both QoQ and YoY growth
RS flatten from late dec, diverging from declining price. this week broke out of wedge.
to reclaim VWAP for entry.
BUY AUTONATION (AN) for a move up to $150 per shareDear followers & copiers,
💎We've just opened a LONG $AN (AutoNation) position using 3.10% of our equity. 💎
Why we bought the stock?🙋♂️
✅AutoNation delivered better than expected financial performance result for the fifth consecutive time in its Q2 2021 Earnings report.
🥇The company has managed to diversify its portfolio of products very well throughout the last few years, which in turn has drastically lowered its overall risk profile. A well-balanced portfolio of products is also a great long-term stability indicator for the company's position in the industry that it operates in.
🚀What we find extremely attractive from a Growth standpoint is that $AN Auto Nation has been deploying substantial efforts in solidifying its strong footprint as an industry leader by introducing a new digital platform called AutoNation Express, further developing its already large dealer network and
last but not least investing heavily in its store expansion program.
💯The outstanding ability of the senior management team at $AN Auto Nation and the company's CEO Mike Jackson are inevitably going to drive profitability even higher in the coming quarters.
⏳The company is in the process of completing a buyout of 11 stores and a collision center from Peacock Automotive Group, which will drastically improve AutoNation’s portfolio and add $380 million in its annual revenues.
📈AutoNation has also demonstrated that one of the company's core focus points continues to be on the efforts of improving the company's already stable financial position. The operating margins have been very positively affected by the disciplined application of insightful cost reduction and management strategies. AutoNation is committed to operate below or at 65% SG&A as a percentage of gross profit in 2021, signaling a major improvement from its 71%-73% range over the last several years. Its adjusted SG&A as a percentage of gross profit was 56.5% in the last reported quarter, representing an 1,170-basis point improvement year over year.
🤩The company's financial position is also impressive with the combination of a strong balance sheet, low leverage and high liquidity. The firm’s debt-to-capital ratio stands at 0.36, which is another sign that the company possesses plenty of financial flexibility.
📈Technical Picture📈
The stock has experienced a rather meaningful 25% retracement from the $125 per share highs and is currently sitting in an oversold territory at a multi-year support area, which is favoring LONG positions. All of the indicators that we monitor are also turning up higher, signaling the building up of bullish momentum in the stock. The first major resistance that the stock will face and in our opinion will definitely break through is around the $125 area. Once the previous highs are broken then the stock will be easily heading higher towards the next round level of $150 per share.
👌Our plan is to hold the stock for the long term with a potential Target price level of $150 per share.
Follow & Copy us for FREE and get more detailed market analyses, profitable trading ideas and consistent portfolio performance🤝
Sincerely,
Dow Experts
$AN AutoNation Long-term Support$AN AutoNation looking oversold on the weekly chart bouncing off long term support around $39 this week. Expecting further recovery in the medium term. Targeting $48-$50 area by January.
Auto Nation pauses here before move lowerI am long AN $38.00 puts that expire ten days after the next earnings and revenue release. I expect the numbers to be poor, and I expect that the stock will sell off even more after this release. However, I got a message asking if I thought the market will go lower from here. Likely, not until the release. But, I will take if if it does go lower.
