David Hurwitz and team have continued to deliver for shareholders, with a defensive business model, consistent earnings growth and transformative transactions (see We Buy Cars) which could propel the business into it's next leg of growth.
The price has traded in a sideways range since late May however the most recent set of higher lows suggests potential for buyers to overwhelm sellers, clear the overhead resistance, re-test and then possibly continue to trend higher.
We may see a break above resistance, followed by short consolidation and then a possible trend. I have flagged this idea as LONG, but await price confirmation.
Additional Technical Considerations:
Price above rising 100 and 200-day SMA.
Last Price: 3827c
Short term failure will be a close below 3560c.
Time Frame: Medium Term
The price has traded in a sideways range since late May however the most recent set of higher lows suggests potential for buyers to overwhelm sellers, clear the overhead resistance, re-test and then possibly continue to trend higher.
We may see a break above resistance, followed by short consolidation and then a possible trend. I have flagged this idea as LONG, but await price confirmation.
Additional Technical Considerations:
Price above rising 100 and 200-day SMA.
Last Price: 3827c
Short term failure will be a close below 3560c.
Time Frame: Medium Term
