Hertz Global Holdings (HTZ) is currently trading at the lower boundary of a well-defined falling wedge pattern, a structure that often signals a potential bullish reversal. The price has once again touched the wedge’s support line, showing early signs of reacting from this level. This repeated defense of support suggests that sellers may be losing momentum as the range continues to narrow.
If HTZ maintains support at this lower trendline and begins to push higher, the next key level to monitor is the upper wedge resistance. A confirmed breakout above that level may trigger a shift in trend, opening room for a measured move toward the $10 target area, which aligns with previous highs and the projected wedge breakout objective.
While the trend is still technically down, the structure of the wedge combined with the current bounce setup provides a constructive environment for a possible reversal. Confirmation and healthy volume on the breakout will be essential to validate the move.
(This idea is for educational purposes only, not financial advice.)
If HTZ maintains support at this lower trendline and begins to push higher, the next key level to monitor is the upper wedge resistance. A confirmed breakout above that level may trigger a shift in trend, opening room for a measured move toward the $10 target area, which aligns with previous highs and the projected wedge breakout objective.
While the trend is still technically down, the structure of the wedge combined with the current bounce setup provides a constructive environment for a possible reversal. Confirmation and healthy volume on the breakout will be essential to validate the move.
(This idea is for educational purposes only, not financial advice.)
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