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SmarTrend Watching for Potential Rebound in Shares of Hertz Global After 1.75% Loss

By Shiri Gupta

Hertz Global (NYSE:HTZ) traded in a range yesterday that spanned from a low of $21.01 to a high of $22.02. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $21.15 on volume of 679,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Hertz Global has traded in a range of $6.95 to $53.14 and is now at $21.32, 207% above that low. The 200-day and 50-day moving averages have moved 1.32% lower and 0.34% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Hertz Global on October 11th, 2016 by issuing a Downtrend alert when the shares were trading at $36.18. Since that call, shares of Hertz Global have fallen 40.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders hertz global

Ticker(s): HTZ