Chris Verrone Weighs In On The Auto Sector

On CNBC's "Closing Bell," Chris Verrone of Strategas Research Partners said charts of General Motors Company GM and Ford Motor Company F look good. He believes they have corrected over the last month or two and they are buyable now.

Verrone said the auto sector is not as aggressively priced as the tech or the growth stocks, said the analyst. The European and the U.S. auto names were in the bear market for the last four years and they have just started to move higher. Verrone sees more room on the upside for the auto stocks.