Watching Avis Budget Group for a long setup at a Pivot Level.

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(CAR) was on my IBD list of strong fundamental stocks. It's in a strong uptrend and currently pulling back to the $61.95 Pivot level. Once there I'm watching for clear price action showing that the level is being rejected and momentum is building to the upside.

* On September 16th CAR gave an entry trigger with the strong up day closing in the upper range after a gap below support.
* 9-22-2014 Stopped out at $61.75 today for a small loss.
* 9-22-2014 Stopped out at $61.75 today for a small loss.
Hi Mike, nice analysis. Good stock selection, and sound reasoning behind a long. Is this a swing trade? I am guessing it is because of the time frame of your analysis. Have you taken the trade? This was tricky because of the price gap.
mbrenke MarcPMarkets
Hi Marc, yes it is a swing trade. I entered at the break of Tuesday's high. I like to enter at a 10 cent break of the triggering days high. I normally stay away from gaps but price showed a lot of strength by closing the way it did on heavier volume, so for me that served as a trigger.
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