CAR pushes through previous session high

Avis Budget Group, Inc. (CAR) Technical Analysis Report for May 17, 2018

Highlights

CAR dominated by bulls lifting the market higher throughout the day
CAR closes higher for the 2nd day in a row
CAR pushes through previous session high
CAR rises to highest close since May 4th

TQ Sentiment

Report Sentiment:
40% Bullish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

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.

Daily chart for CAR

Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 45.20.

Trend

Avis shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Avis Budget Group, Inc.

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