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Bullish Moving Average Cross by Avis Budget Group (CAR)

By Amy Schwartz

Avis Budget Group (NYSE:CAR) crossed over its 10-day moving average of $24.66 on a volume of 2.5 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Avis Budget Group share prices have been bracketed by a low of $21.73 and a high of $56.74 and are now at $25.26, 16% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Avis Budget Group on April 7th, 2016 by issuing a Downtrend alert when the shares were trading at $24.49. Since that call, shares of Avis Budget Group have fallen 3.9%. 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