#Trading Sonic Automotive (NYSE: SAH) or any other #stock for that matter requires a degree of #disciple that not every #investor has. Even those that have discipline often fail to adhere to those disciplines sometimes, and this can cause problems, but hopefully the guides below will help investors see exactly how to stick to it. The data we offer below for SAH has been compiled in such as way as to demonstrate how to do this using a real-time example. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Strong | Neutral | Strong |
P1 | 0 | 0 | 44.86 |
P2 | 51.03 | 49.92 | 51.40 |
P3 | 52.27 | 51.88 | 57.85 |
Long Term Trading Plans for SAH
April 28, 2021, 7:15 pm ET
The Technical Summary and Trading Plans for SAH help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this SAH Report.
SAH - (Long) Support Plan
The technical summary data tells us to buy SAH near 44.86 with an upside target of 51.40. This data also tells us to set a stop loss @ 44.73 to protect against excessive loss in case the stock begins to move against the trade. 44.86 is the first level of support below 51.1 , and by rule, any test of support is a buy signal. In this case, support 44.86 would be being tested, so a buy signal would exist.
SAH - (Short) Resistance Plan
The technical summary data is suggesting a short of SAH as it gets near 51.40 with a downside target of 44.86. We should have a stop loss in place at 51.55though. 51.40 is the first level of resistance above 51.1, and by rule, any test of resistance is a short signal. In this case, if resistance 51.40 is being tested, so a short signal would exist.