Cup and Handle PlayHertz appeared to be filling the gap it created after briefly enjoying life as a meme stonk, but no. Instead it printed a textbook cup and handle, the likes of which I haven't seen on a real stock as opposed to making something up for demonstrative purposes. Even the nice cup and handles you see in the wild don't have this uniform volume profile through the cup.
Then comes the news that Hertz is set to spend billions on 100,000 Teslas. This kind of spend usually pushes a stocks price down in the near term but today we saw a gap up over the 9MA which was previously acting as resistance and is now support. After filling today's gap we are looking at a potential green close, which is crazy considering the hurting rental company's expensive announcement. Looking for around $35 by end of next week.
Hertzglobal
And so reality catches up...A couple of days ago, I highlighted an anomaly about bankrupt companies spiking up. Over the last two days, Hertz, being one of such, had a bearish harami, now a three inside down, candlestick pattern. This came after failing the 55EMA.
REALITY BITES... HARD.
Stay safe.
Hertz 4 Hour Long Set UpAfter the initial dip this morning Hertz seems to have bounced and held support in this channel, it is looking like we could see another move up here where if we break out of the Triangle we can expect continuation to the upside. If this trade is set up is stopped out or we see a lower high made on this time frame we can expect another move to the downside. Make sure to use proper risk management and only risk 2% of your portfolio.
Hertz (HTZ) - Could move big time All,
Hertz needs to break a full candle above $1.09. I said this with AMC.. what are the odds people/companies/large investment banks let these companies go under that literally everyone knows? I say it won't happen and the backing of recent news suggests the same. You absolutely have to have a market stop loss under $.90 if you get in now. Worst case they get bought out (good thing)
Entry $1.06 or $1.09
MARKET stop loss $.90
2nd Option is to wait for a possible double bottom near .34.... but I doubt that will happen. This is all due to the virus, not the actual company don't forget that.
Hertz broken resistanceLooks like hertz broke falling wedge to the upside and is currently flipping the resistance to support. Still has massive bullish divergence on weekly. We could get a nice little rally from here. Needs to hold 2.90.
$HTZ technical analysis "HTZ"NYSE:HTZ
Lot's of bullish signs/patterns played out and are playing out.
If the bottom is in, then we would have formed a double bottom = bullish.
Today's price action resemble a SFP (swing failure pattern) = bullish.
Many bullish divergences on multiple time frames (1hr, 4hr, 1day, weekly) = bullish.
Inverse head and shoulders pattern looks to be completing right shoulder on multiple time frames = bullish.
Recent volume price is declining = bullish.
In the chart I have sell zone boxes in red where I am looking to sell parts of my position.
They also correspond with the red diagonal resistance lines I drew and several EMA's (exponential moving averages: 100, 200, 250, 300)
The green trend lines show support areas.
We don't want price to fall below those areas.
Good luck to all and God bless!
Alex Vieira GENIUS Making Millions in the Markets Laughing HardIndeed! ALEX VIEIRA GENIUS LAUGHING HARD BEST CRASH SINCE 1929
Alex Vieira AVIS and Hertz to Crash Urges Massive Short Sellingthe video selling short AVIS at $52 LIVE is available on the web
HTZ SELL TP_10.40_26.45%_3.74pips_SL_14.96_5.80%_0.82pipsHTZ SELL TP_10.40_26.45%_3.74pips_SL_14.96_5.80%_0.82pips
