Autonation Inc (AN): Price Now Near $76.67; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for AN

At the time of this writing, AN’s price is down $-1.95 (-2.49%) from the hour prior. AN has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

AN’s Technical Outlook on the Daily Chart

At the time of this writing, AN’s price is down $-1.95 (-2.48%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as AN has now gone down 4 of the past 5 days. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, so that price is now turning below it. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The chart below shows AN’s price action over the past 90 days.

AN

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