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

By David Diaz

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 $19.32 and $19.82 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.

Over the past year, Hertz Global Hol has traded in a range of $13.40 to $27.27 and is now at $19.80, 48% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has remained constant.

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.

There is potential upside of 6.9% for shares of Hertz Global Hol based on a current price of $19.80 and an average consensus analyst price target of $21.17. The stock should discover initial support at its 200-day moving average (MA) of $19.31 and subsequent support at its 50-day MA of $17.18.

SmarTrend is monitoring the recent change of momentum in Hertz Global Hol. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Hertz Global Hol in search of a potential trend change.

Keywords: bearish inside day candle hertz global hol

Ticker(s): HTZ