Auto finance shares of Credit Acceptance Corp (CACC)

Shares of Credit Acceptance Corp (CACC) rallied 2.8% on Wednesday after posting stronger-than-expected loan originations data. Traders see potential short-term momentum, with resistance near $546 and support at $ But commodities and energy market watchers see a long runway for upside. Customers who haven't researched vehicle prices for a few years are "very shocked" when they learn what payments are now, said Cody Anderson of Freedom Ford in Greenville, Texas. Recent market data shows auto finance lenders are tightening underwriting standards due to rising default rates, yet Q2 consumer loan demand grew 4.1% YoY. This could stabilize stock prices for companies like Santander Consumer USA, which saw a 2.2% uptick this week.