Car looking for reversal at a previous lowpoint with Bullish Divergence and showing a Double Ballsack Pattern. Technical indicators looking great on the 4H, and 1D. Enter if price action is upward & cut if it dips below support (YELLOW BOX). Looking to begin scaling out around the GREEN BOX if trade is entered.
If all my ideas look equal is because I work with the more basic principle of Technical Analysis, support and resistance and the more higher the time frame the more reliable, this do not mean is bulletproof.
But Weekly Charts avoid emotions because the weekly charts are simply boring and is necessary too to wait for the end of the weekly for the confirmation of...
In the last 12 months, #CAR (Avis Budget Group) has lost more than half of its value.
Since Jan 2016, the stock has ranged between 22 - 30 USD. Now the stock touched the 30 USD upper price level after it has increased with 25% in the last two weeks.
Time for a short pull back before continuing the uptrend.