ABG daily Jan 9th
ABG (Asbury Automotive) is another component of the XRT Retail ETF. Although the stock is currently trading slightly below this primary uptrend line, my preference will be to wait for a move below today’s current low of 51.77 before establishing a short position. This should help to reduce the chances of shorting a whipsaw/false sell signal such as those that occurred back in April & June of 2013. Stops should depend on one’s preferred price target although a move over the recent highs would be a logical stop for most traders.