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Hertz Global Crosses Above its 10-day MA (HTZ)

Published on Wed, 01/02/2013 - 12:26
By Adrienne Chilton

Today, shares of Hertz Global (NYSE:HTZ) have advanced above their 10-day MA of $16.37 on a volume of 3.1 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Hertz Global (NYSE:HTZ) has potential upside of 27.6% based on a current price of $16.80 and analysts' consensus price target of $21.43. The stock should discover initial support at its 50-day moving average (MA) of $15.05 and subsequent support at its 200-day MA of $14.01.

Hertz Global share prices have moved between a 52-week high of $17.11 and a 52-week low of $10.22 and are now trading 64% above that low price at $16.80 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

Hertz Global Holdings, Inc. operates car and equipment rental centers throughout the United States and Europe.

By Adrienne Chilton
achilton@fnno.com