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Avis Budget Group Bearish Moving Average Crossover Alert (CAR)

By Shiri Gupta

Today, shares of Avis Budget Group (NYSE:CAR) have crossed bearishly below their 10-day moving average of $32.23 on a volume of 450K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Avis Budget Group share prices have moved between a 52-week high of $56.74 and a 52-week low of $21.73 and are now trading 47% above that low price at $32.03 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has slid 1%.

SmarTrend recommended that subscribers consider buying shares of Avis Budget Group on May 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.41. Since that recommendation, shares of Avis Budget Group have risen 19.9%. We continue to monitor CAR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Avis Budget Group

Ticker(s): CAR