Bulls in the Driver’s Seat at Avis Budget?
Avis Budget rallied in the fourth quarter on a value-driven short squeeze. It’s calmed down since but now may be showing some interesting patterns.
First, consider the bounce off the 200-day simple moving average (SMA) on February 24. That could suggest the longer-term uptrend remains in effect.
Second, notice how prices have stayed in a tight channel since mid-March. Are they starting to resemble a bullish flag?
Third, CAR’s 8-day exponential moving average (EMA) has remained above the 21-day EMA. That suggests the shorter-term trend remains positive.
Fourth, stochastics are nearly oversold despite only a modest pullback in the shares.
Finally, the macro situation may favor CAR because it trades for less than 15 times earnings (placing it more in the “value” camp than “growth”). It could also benefit from the onset of summer vacations starting next month. Earnings are due May 2 in the post market.
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TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing in cryptocurrencies involves significant risks. Please click here for TradeStation Crypto’s risk disclosures on investing and trading in cryptocurrencies.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
First, consider the bounce off the 200-day simple moving average (SMA) on February 24. That could suggest the longer-term uptrend remains in effect.
Second, notice how prices have stayed in a tight channel since mid-March. Are they starting to resemble a bullish flag?
Third, CAR’s 8-day exponential moving average (EMA) has remained above the 21-day EMA. That suggests the shorter-term trend remains positive.
Fourth, stochastics are nearly oversold despite only a modest pullback in the shares.
Finally, the macro situation may favor CAR because it trades for less than 15 times earnings (placing it more in the “value” camp than “growth”). It could also benefit from the onset of summer vacations starting next month. Earnings are due May 2 in the post market.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing in cryptocurrencies involves significant risks. Please click here for TradeStation Crypto’s risk disclosures on investing and trading in cryptocurrencies.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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