Hertz Global Holdings (
HTZ) is currently trading within a well-defined falling wedge pattern, a classic bullish setup that often precedes a reversal or breakout to the upside. After a period of consistent lower highs and lower lows, the price appears to be compressing near the wedge’s lower boundary, suggesting a potential exhaustion of selling pressure. The narrowing structure indicates that volatility is contracting, typically a prelude to a decisive move. If price action confirms a breakout above the upper trendline with solid volume, the pattern projects a potential upside target near $10, aligning with prior resistance levels and measured-move expectations from the wedge height. I’m monitoring closely for a daily close above the wedge resistance as a confirmation signal. Until then, the pattern remains in play, offering a constructive technical setup for bullish continuation.
HTZ) is currently trading within a well-defined falling wedge pattern, a classic bullish setup that often precedes a reversal or breakout to the upside. After a period of consistent lower highs and lower lows, the price appears to be compressing near the wedge’s lower boundary, suggesting a potential exhaustion of selling pressure. The narrowing structure indicates that volatility is contracting, typically a prelude to a decisive move. If price action confirms a breakout above the upper trendline with solid volume, the pattern projects a potential upside target near $10, aligning with prior resistance levels and measured-move expectations from the wedge height. I’m monitoring closely for a daily close above the wedge resistance as a confirmation signal. Until then, the pattern remains in play, offering a constructive technical setup for bullish continuation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.