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Lithia Motors Looks to Continue to Trade Above its Annual-High Share Price Today

Published on Wed, 01/02/2013 - 15:26
By Robert Cotter

Shares of Lithia Motors (NYSE:LAD) traded at a new 52-week high today of $38.99. This new high was reached on above average trading volume as 382,000 shares traded hands, while the average 30-day volume is approximately 247,000 shares.

Potential upside of 9.9% exists for Lithia Motors, based on a current level of $38.50 and analysts' average consensus price target of $42.30. The stock should find initial support at its 50-day moving average (MA) of $34.97 and further support at its 200-day MA of $29.25.

Lithia Motors, Inc. retail sells new and used vehicles in the western United States. The Company offers domestic and imported makes of new automobiles and light trucks through dealerships in California, Oregon, Washington, and Nevada. Lithia also arranges related financing and insurance contracts, as well as provides vehicle parts, maintenance, and repair services.

Lithia Motors share prices have moved between a 52-week high of $38.99 and a 52-week low of $20.62 and are now trading 87% above that low price at $38.50 per share. Over the past week, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.2%.

By Robert Cotter
rcotter@fnno.com