Penske Automotive Group rises in volatile session - Analysis - 16-06-2022

Penske Automotive Group's stock rose 0.87% in the last session, or 98 cents, settling at 114.04, with trading volumes surpassing 434.7 thousand shares, above 10-day averages of 365 thousand shares, amid the dominance of the main upward trend in the medium and short terms, with support from the 50-day SMA, countered with negative signals from the RSI.

The gains came after the company raised quarterly profits estimates to 47 cents per share from 46 cents. 

Therefore we expect more gains for the stock, targeting the resistance of 130.00, provided the pivotal resistance of 114.00 was breached. 

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Expected trend for today: Bullish