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Avis Budget Grou Rises 1.55% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Avis Budget Grou (NASDAQ:CAR) traded in a range yesterday that spanned from a low of $35.29 to a high of $36.38. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $35.98 on volume of 267,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Avis Budget Grou have traded between a low of $23.91 and a high of $37.27 and are now at $35.72, which is 49% above that low price. The 200-day and 50-day moving averages have moved 0.03% higher and 1.11% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Avis Budget Grou on October 23rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.35. Since that recommendation, shares of Avis Budget Grou have risen 17.7%. We continue to monitor CAR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders avis budget grou

Ticker(s): CAR