Since we reviewed the charts of AutoNation (AN) on Sept. 21 prices have remained strong. We wrote that, "Aggressive traders could look to go long (or add to existing longs) around $115 risking to $101. On the upside the $166 area is our first price target."
The shares have not (yet) reached our price target but let's visit with the charts again.
In the updated daily bar chart of AN, below, we can see that the shares have been driving in a strong uptrend the past 12 months. AN is trading above the rising 50-day line and the rising 200-day line.
The On-Balance-Volume (OBV) line turned very strong in early September and confirms and supports higher prices. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line.