Long Position on LAD @ $36.20 on 10/24/2012 (Momentum)

Lithia Motors (LAD) operates as an automotive franchisee and retailer of new and used vehicles in the United States.

It sells new and used cars, and light trucks; offers replacement parts and service; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing, service contracts, protection products, and credit insurance.

As of August 27, 2012, the company offered 28 brands of new vehicles and various brands of used vehicles in 86 stores in 11 states, as well as online at Lithia.com. 

Its dealerships are primarily located throughout the Western and Midwestern regions of the United States. In October 2011, it acquired the assets of Fresno Subaru from Herwaldt Automotive Group.

Shares have formed a bullish "Cup & Handle" and are expected to move higher out of this formation.

52-Week Trading Range: $18.58 - $37.15

Last Trade:  $36.20

Stop Loss:  $34.37

Target Price:  $40.00

Position closed on 10/25/2012 at price of $34.37 with a -5.06% loss in 1 days.

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