AuthenticTrader
Long

HTZ In Wave 3 on Hourly Chart

NYSE:HTZ   HERTZ GLOBAL HOLDINGS INC
Bullish Kicker on daily chart trading close to 52 week low on high volume with Connors RSI (2) overbought at 94. Also was some big buys and an insider buy. I got in at 25.92

ADX is >30, TSI cross and above zero, and it closed above the 60sma.

Also a case can be made for the formation of an intermediate impulse wave - starting wave three which will mean a move close 27, which happens to coincide with the nearest short term resistance level .

If the count is correct, we will only have a retracement to 27.14 which is the end of wave 1, and Elliot says wave 4 cannot overlap into the territroy of wave 4.

I''m still ,long and will look to take profits around 27, setting a buy limit in the area of 26.30.
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