Penske Automotive Group, Inc. : Rebound on the support is expected
Entry price | Target | Stop-loss | Potential |
---|
US$45.74 |
US$0 |
US$43.8 |
-100% |
---|
Take advantage of the bullish trend in mid and long term.
A lot of fundamental indicators are in the green: Analysts upward-oriented revisions, growth perspective and moreover, at current price, the company is trading with and EV/Sales ratio of 0.38x for the current year.
Graphically, buyers influence have been downsized. As the trend in the short term became bearish. That has sent the stock near an important support of USD 45.15. An upward trendline gives also one more argument for a bullish movement of the stock.
The USD 45.15 represent an interesting level for buyers with a main target at USD 48.45. A stop loss will be fixed below the entry point to limit the risk.
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