CAR pushes through previous session high
Avis Budget Group, Inc. (CAR) Technical Analysis Report for May 17, 2018
Moving higher for the 2nd day in a row, CAR finished Thursday at 44.75 gaining $0.93 (2.12%). Today's closing price of 44.75 marks the highest close since May 4th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 44.15, the market confirms its breakout through the previous session's high having traded $1.00 above it intraday.
Thursday's trading range was $1.22 (2.78%), that's slightly below last trading month's daily average range of $1.76. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.
Prices are trading close to the key resistance level at 45.20.
Avis shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.