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Avis Budget Group: The Losing Streak Continues (CAR)

By Nick Russo

Shares of Avis Budget Group (NYSE:CAR) traded today at $21.12, breaking its 52-week low. Approximately 441,000 shares have changed hands today, as compared to an average 30-day volume of 2.5 million shares.

There is potential upside of 102.8% for shares of Avis Budget Group based on a current price of $21.27 and an average consensus analyst price target of $43.12. Avis Budget Group shares should first meet resistance at the 50-day moving average (MA) of $25.69 and find additional resistance at the 200-day MA of $35.72.

In the past 52 weeks, Avis Budget Group share prices have been bracketed by a current low of $21.12 and a high of $56.74 and are now at $21.27. 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%.

Avis Budget Group, Inc. offers automobile and truck rental services.

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 24.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Avis Budget Group

Ticker(s): CAR