Avis Budget Group is looking interesting in this current chart.
I think there are two potential options:
- If the price can fill June’s tiny gap and break through $8.53 then we could see the price move towards resistance @ $9.17 and then $10.19.
- Option 2, which i think is the most likely, is that the price may drop down to $7.14 and bounce off of that support and either ping pong in that sideways channel or again test $8.53 and higher.
I think option 2 will pan out though mainly because i see the RSI looking good… BUT, there is a downward turn on the end (circled) indicating a healthy but minor price correction may take place.
The Slow STO is also showing this same type of signal and has somewhat rolled over.
Buy on bounce around support of $7.14 and/or buy on confirmational cross through $8.53. Look for resistance @ $9.17 and $10.19.
If the price moves below $7.14 then forget it.