Hertz Global (NYSE:HTZ) shares have crossed bullishly above their 10-day moving average of $20.57 on a volume of 8.2 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 Holdings, Inc. operates car and equipment rental centers throughout the United States and Europe.
Over the past year, Hertz Global has traded in a range of $18.50 to $31.61 and is now at $20.69, 12% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.2%.
Hertz Global has overhead space with shares priced $20.69, or 20.4% below the average consensus analyst price target of $26.00. The stock should find initial resistance at its 50-day moving average (MA) of $21.16 and further resistance at its 200-day MA of $23.49.