Avis Budget Group Inc Forecast and Stock Analysis
Technical CAR.L stock analysis for Wednesday May 22, 2019.
|Price to book||GBP 7.36|
|Next Earnings Date||n/a|
Avis Budget Group Inc gained 1.93% in the last trading day ( Wednesday, 22nd May 2019 ), rising from £31.05 to £31.65 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During day the stock fluctuated 1.27% from a day low at £31.50 to a day high of £31.90. The price has risen in 7 of the last 10 days and is up by 19.66% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 118 669 more shares were traded than the day before. In total, 165 894 shares bought and sold for approximately £5.25 million.
- 30 day high of the CAR.L stock price was £33.10 and low was £19.95.
- 90 day high was £47.10 and low was £19.00.
- 52 week high for the Avis Budget Group Inc - £123.50 and low - £19.00.
Avis Budget Group Inc has broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is £31.50, a level that may pose a second chance to hit a runner. According to fan-theory £51.38 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Avis Budget Group Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at £31.14 and £28.28. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday May 17, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 68 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at £29.00 and £26.65.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Avis Budget Group Inc finds support just below today's level at £29.00. If this is broken, then the next support from accumulated volume will be at £26.65 and £23.80.
This stock may move much during a 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 £0.40 between high and low, or 1.27%. For the last week, the stock has had a daily average volatility of 6.44%.
Our recommended stoploss: £29.96 (-5.35%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 3 days ago.)
6.44 %Average volatility
Very Low Low Medium High Very High
Avis Budget Group Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.
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