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Avis Budget Group Bearish Moving Average Crossover Alert (CAR)

By James Quinn

Avis Budget Group (NYSE:CAR) shares have crossed bearishly below their 10-day moving average of $22.56 on a volume of 447K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Avis Budget Group has traded in a range of $21.37 to $56.74 and is now at $22.21, 4% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Avis Budget Group on May 8th, 2017 by issuing a Downtrend alert when the shares were trading at $28.20. Since that call, shares of Avis Budget Group have fallen 18.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Avis Budget Group

Ticker(s): CAR