Automotive (and Auto Dealers) strength status as of 2023-04-14?
Auto Dealers are part of Specialty Retail but this report uniquely compares them with Automotive.
Automotive currently has a Weak strength rating. Auto Dealers have a Strong strength rating.
Of note, Automotive and Auto Dealers have strengthened over the past week after weakening over the past two month, one month, and two week periods, as seen in the following graphic:
As the journey of 1,000 miles begins with one step, a one-week rally may be the first step toward a multi-week rally. (And, it also may not be. Hence, if a position is opened after this first week, responsible steps must be taken to size and manage the position correctly.)
Major Auto Manufacturers and Auto Dealers Detail
Note below Tesla/TSLA has a "Weaker" strength rating. Ferrari/RACE has a "Strongest" strength rating, reflecting that the top 0.1% is not concerned about the global economic environment.
The weakness of Carvana/CVNA compared to other dealerships is clearly reflected in the analysis below.
Automotive detail (downloadable file)
Detailed stock-by-stock analysis available at the link below: