Avis Budget Group Stock Forecast
Strong day for Avis Budget Group stock price on Thursday rising 20.07% to $113.77
(Updated on May 02, 2024)
The Avis Budget Group stock price gained 20.07% on the last trading day (Thursday, 2nd May 2024), rising from $94.75 to $113.77. During the last trading day the stock fluctuated 8.20% from a day low at $109.45 to a day high of $118.43. The price has risen in 6 of the last 10 days and is up by 11.54% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $263.58 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.60% during the next 3 months and, with a 90% probability hold a price between $76.71 and $113.29 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CAR Signals & Forecast
The Avis Budget Group stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $101.59 and $112.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 20.07%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Avis Budget Group stock
Avis Budget Group finds support from accumulated volume at $112.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $8.98 between high and low, or 8.20%. For the last week, the stock has had daily average volatility of 5.66%.
Our recommended stop-loss: $109.20 (-4.02%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (CAR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Avis Budget Group to open at $113.88, and during the day (based on 14 day Average True Range), to move between $107.27 and $120.27, which gives a possible trading interval of +/-$6.50 (+/-5.71%) up or down from last closing price. If Avis Budget Group takes out the full calculated possible swing range there will be an estimated 11.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $112.25 (1.34%) than the resistance at $119.91 (5.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Avis Budget Group stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 3.188 Buy Candidate Upgraded
Predicted Opening Price for Avis Budget Group of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $113.88 ( 0.0996%) | $113.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.86 | 7.99 % | |
| R2 | 119.43 | 4.98 % | ||
| R1 | 117.31 | 3.11 % | ||
| Current price: | 113.77 | |||
| Support | S1 | 110.45 | -2.92 % | |
| S2 | 108.33 | -4.78 % | ||
| S3 | 104.90 | -7.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 129.81 | 14.10 % | |
| R2 | 121.08 | 6.43 % | ||
| R1 | 119.91 | 5.40 % | ||
| Current price | 113.77 | |||
| Support | S1 | 112.25 | -1.34% | |
| S2 | 105.04 | -7.67% | ||
| S3 | 99.57 | -12.48% |
CAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 05, 2023 | Dec 14, 2023 | Dec 21, 2023 | $10.00 | 5.41% |
| 2 | Feb 09, 2006 | Feb 23, 2006 | Mar 14, 2006 | $0.176 | 0.654% |
| 3 | Oct 19, 2005 | Nov 17, 2005 | Dec 13, 2005 | $0.176 | 0.665% |
| 4 | Jul 19, 2005 | Aug 18, 2005 | Sep 13, 2005 | $0.176 | 0.544% |
| 5 | Apr 26, 2005 | May 19, 2005 | Jun 14, 2005 | $0.144 | 0.413% |
FAQ
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