The USD 43.8 support, currently tested, should allow Penske Automotive Group to rally again.
From a fundamental viewpoint, the security is cheap with a P/E Ratio of 12.07x for 2015 and 10.92x for 2016.
Besides, EV/Sales is very low with a ratio at 0.26x for this year.
Currently, the stock is oversold and, in the mid-term, is trading in a bearish trend. In the short term, this trend is reversed upon contact with the USD 43.8 area. Penske Automotive Group should be able to confirm its increase in the next trading sessions toward the 20-day moving average and the first resistance at USD 48.4. Indeed, the USD 43.8 support, already testend in august offers an opportunity for a technical rebound.
It seems opportune to open a long trade at current prices. A confirmation of this pattern would enable the security to reach the USD 48.4 resistance, with a potential gain of 7%. Investors should not insist under USD 43.8 and are better of placing a stop-loss order under this threshold.
Penske Automotive Group, Inc. is a diversified international transportation services company. The Company is also engaged in automotive and commercial truck retailing. The Company operates dealerships in the United States, the United Kingdom, Canada, Germany, Italy, and Japan and retailers of commercial trucks in North America for freightliner. The Company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. The Retail Automotive segment consists of its retail automotive dealership operations. The Retail Commercial Truck segment consists of its retail commercial truck dealership operations in the United States and Canada. The Other segment consists of its commercial vehicle and power system distribution operations. The Non-Automotive Investments segment consists of its equity method investments in non-automotive operations, which includes its investment in Penske Transportation Solutions (PTS) and various other investments.
PENSKE AUTOMOTIVE GROUP, INC. 
