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|It was a first positive week after 3 consecutive negative weeks for the AutoNation, Inc. (AN). During the week, the AN gained 1.32 points, or 2.87%, and closed at 47.26 on Friday, August 03, 2018. It was the best weekly gain since June 8, 2018. Weekly volume was 22% above average. |
Long-term trend: [See AN long-term trend chart]
A long-term uptrend had started on May 26, 2017 at 38.20 and reached 62.02 on January 26, 2018. AN gained -23.82 points, or -62.36%, in 35 weeks. The chart has formed a Falling Pennant chart pattern. The trend support level is at 44.30 and resistance is at 49.14. A Falling Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Falling Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Pennant pattern in a long-term trend.
Medium-term trend: [See AN medium-term trend chart]
A medium-term uptrend had started on May 1, 2018 at 42.95 and reached 51.99 on June 22, 2018. AN gained -9.04 points, or -21.05%, in 7 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (51.28) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
Weekly Technical Indicators: [See AN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since June 15, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See AN short-term trend chart]
A short-term downtrend had started on June 22, 2018 at 51.99 and reached 45.11 on August 1, 2018. AN lost 6.88 points, or 13.23%, in 40 days. The chart has formed a Falling Channel chart pattern.
Daily Technical Indicators: [See AN daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since June 26, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.