$CAR over $200? Is post-Covid travel fading? Keep watch.
Something is going on in CAR and HTZ stocks, something worth watching for a good swing trade.
It is strange to see JP Morgan's 231 price raise just one week before earnings. I am reading articles about travel declining, relative to the boom in 2021. Gas price has risen, along with general travel-related costs (food, lodging). I do not know if someone is "playing" with stock price. Short float is under 9%.
To be fair, there is little technical support for my inclination to buy puts. While the 10 and 20 MA's appear bullish, 50ma is below 200ma. RSI and Stochastic are elevated and usually do not stay in overbought zones for very long. Note due to the strong trends I have graphed 7-period RSI here.
The trade design I have is an early entry swing trade before earnings, in anticipation of a reversal. In such a trade I buy fewer contracts to keep risk low and only buy if I have a high reward, low risk investment. If price moves higher instead I may sit out calls and watch for another swing put entry.
For a more expert evaluation of the company's stock price based on fundamental and bottom line factors, read this article:
seekingalpha.com/article/4546624-declining-used-car-prices-create-downside-for-avis-budget
It is strange to see JP Morgan's 231 price raise just one week before earnings. I am reading articles about travel declining, relative to the boom in 2021. Gas price has risen, along with general travel-related costs (food, lodging). I do not know if someone is "playing" with stock price. Short float is under 9%.
To be fair, there is little technical support for my inclination to buy puts. While the 10 and 20 MA's appear bullish, 50ma is below 200ma. RSI and Stochastic are elevated and usually do not stay in overbought zones for very long. Note due to the strong trends I have graphed 7-period RSI here.
The trade design I have is an early entry swing trade before earnings, in anticipation of a reversal. In such a trade I buy fewer contracts to keep risk low and only buy if I have a high reward, low risk investment. If price moves higher instead I may sit out calls and watch for another swing put entry.
For a more expert evaluation of the company's stock price based on fundamental and bottom line factors, read this article:
seekingalpha.com/article/4546624-declining-used-car-prices-create-downside-for-avis-budget
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