AutoNation, Inc. (NYSE: AN)

AutoNation, Inc., through its subsidiaries, operates as an automotive retailer in the United States. The company operates in three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance services, and wholesale parts and collision services. The company also provides automotive finance and insurance products comprising vehicle services and other protection products, and arrangement of finance for vehicle purchases through third-party finance sources.
Take a look at the 1-year chart of AutoNation (NYSE: AN) below with my added notations:

AN has created a common chart pattern known as a symmetrical triangle. Combining a down trending resistance (red) with an up trending support (green) forms the triangle pattern. As the support and resistance converge on each other the pattern is created. Since there is no true way to know which way the stock will break, most traders will wait for the breakout or breakdown before entering a trade.

The Tale of the Tape: AN has formed a simple symmetrical triangle. A trader could enter a long position on a break above the down trending resistance (near $51) with a stop set under the entry level. However, if AN were to break below the trend line support (currently near $47), a short trade could be entered with a stop above the trend line.