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Possible Bearish Inside Day Candle Pattern Detected for Hertz Global Hol (NYSE:HTZ)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hertz Global Hol (NYSE:HTZ) based on the price action in the company's shares. Today's price range of $17.66 and $18.36 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Hertz Global Hol may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hertz Global Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, offers renting and leasing of cars from its corporate and franchise locations, as well as maintains separate airport counters, reservations and reservation systems, marketing, and other customer contact activities. Hertz Global Holdings serves clients globally.

Over the past year, Hertz Global Hol has traded in a range of $8.52 to $52.27 and is now at $18.22, 114% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.6%.

Hertz Global Hol (NYSE:HTZ) is currently priced 6.7% above its average consensus analyst price target of $17.00. The stock should hit resistance at its 200-day moving average (MA) of $19.51, as well as support at its 50-day MA of $11.69.

SmarTrend recommended that subscribers consider buying shares of Hertz Global Hol on June 30th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.72. Since that recommendation, shares of Hertz Global Hol have risen 57.1%. We continue to monitor HTZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle hertz global hol

Ticker(s): HTZ