CARS is setting up for a breakout above $20.
The 2021 high for the stock was 19.07 set the month before the bear market started. This level was finally eclipsed last month.
CARS is not consolidating on tightening price action through a series of shallowing pullbacks.
A strong move through the 20.10 pivot point would be a buy trigger for me. You could work a stop at 18.60 just beneath the recent low.
This coincides with the 50-day moving average which has served as support for most of the current move.
The 2021 high for the stock was 19.07 set the month before the bear market started. This level was finally eclipsed last month.
CARS is not consolidating on tightening price action through a series of shallowing pullbacks.
A strong move through the 20.10 pivot point would be a buy trigger for me. You could work a stop at 18.60 just beneath the recent low.
This coincides with the 50-day moving average which has served as support for most of the current move.