Avis Budget Group Inc Forecast and Stock Analysis
Technical CAR.L stock analysis for March 15, 2019.
Avis Budget Group Inc fell by -6.99% in the last day from £45.05 to £41.90 The price has risen in 4 of the last 10 days , but is still down by -6.79% for this period. Volume has increased in the last day by 181 203 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 189 079 shares bought and sold for approximately £7.92 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the CAR.L stock was £41.90. This is 6.99% less than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 7.38% from a day low at £42.00 to a day high of £45.10.
30 day high of the CAR.L stock price was £47.10 and low was £42.00.
90 day high was £83.00 and low was £42.00.
52 week high for the Avis Budget Group Inc - £123.50 and low - £42.00.
Avis Budget Group Inc 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 -46.08% during the next 3 months and, with 90% probability hold a price between £12.37 and £26.73 at the end of this period.
There are few to none technical positive signals at the moment. Avis Budget Group Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 £44.09 and £46.03. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday March 14, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 28 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £3.10 (7.38%) between high and low. For the last week, the stock has had a daily average volatility of 2.54%.
Avis Budget Group Inc is oversold on RSI14 (28). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Strong Sell Candidate
Avis Budget Group 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Strong Sell Candidate.