Hertz Global Holdings Inc Stock Forecast
Hertz Global Holdings Inc stock price up more than 6.23% on Wednesday
(Updated on Apr 24, 2024)
The Hertz Global Holdings Inc stock price gained 6.23% on the last trading day (Wednesday, 24th Apr 2024), rising from $5.46 to $5.80. During the last trading day the stock fluctuated 8.78% from a day low at $5.47 to a day high of $5.95. The price has fallen in 8 of the last 10 days and is down by -20.55% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 211 thousand more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $62.16 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.43 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -21.75% during the next 3 months and, with a 90% probability hold a price between $4.25 and $5.83 at the end of this 3-month period.
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HTZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 6.23%. 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. The Hertz Global Holdings Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.01 and $7.20. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hertz Global Holdings Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $5.46. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.480 between high and low, or 8.78%. For the last week, the stock has had daily average volatility of 5.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HTZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Hertz Global Holdings Inc to open at $5.74, and during the day (based on 14 day Average True Range), to move between $5.44 and $6.16, which gives a possible trading interval of +/-$0.363 (+/-6.26%) up or down from last closing price. If Hertz Global Holdings Inc takes out the full calculated possible swing range there will be an estimated 12.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.99 (3.28%) than the support at $5.46 (5.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Hertz Global Holdings Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.450. We will update the financials statements for Hertz Global Holdings Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.47% in the first trading day after earnings release.
Is Hertz Global Holdings Inc stock A Buy?
Hertz Global Holdings Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.542 Sell Candidate Upgraded
Predicted Opening Price for Hertz Global Holdings Inc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$5.74 ( 1.03%) | $5.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HTZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.22 | 7.24 % | |
R2 | 6.04 | 4.08 % | ||
R1 | 5.92 | 2.13 % | ||
Current price: | 5.80 | |||
Support | S1 | 5.56 | -4.20 % | |
S2 | 5.44 | -6.15 % | ||
S3 | 5.26 | -9.31 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.20 | 24.14 % | |
R2 | 7.11 | 22.59 % | ||
R1 | 5.99 | 3.28 % | ||
Current price | 5.80 | |||
Support | S1 | 5.46 | -5.86% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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