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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hertz Global (NYSE:HTZ) based on the price action in the company's shares. Today's price range of $9.41 and $9.66 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 may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Hertz Global have traded between a low of $6.95 and a high of $22.63 and are now at $9.62, which is 38% above that low price. The 200-day and 50-day moving averages have moved 1.32% lower and 0.34% higher over the past week, respectively.

Hertz Global Holdings, Inc. operates car and equipment rental centers throughout the United States and Europe.

Hertz Global has overhead space with shares priced $9.62, or 58.2% below the average consensus analyst price target of $23.00. Hertz Global shares should first meet resistance at the 50-day moving average (MA) of $9.68 and find additional resistance at the 200-day MA of $13.85.

SmarTrend is tracking the current trend status for Hertz Global and will alert subscribers who have HTZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle hertz global

Ticker(s): HTZ