The right time to short $CAR?
Finally, the trendline has been violated after an Evening Star Pattern formed on the daily chart.
We can clearly see that this stock has been on a strong uptrend since the pandemic, and has almost doubled from the pre-pandemic high ($52.90). Meanwhile, AVIS BUDGET has not been fully operational, sold a big chunk of its fleet and increased its debt significantly.
Few things to consider the short position:
- Fundamentally overvalued
- Bearish pattern formed on the daily chart
- Trendline violated
- MACD / Price divergence
- +DI crossing -DI on 20/04/21
- Volume has been drying-up for the past 1/2 weeks. ( Be careful with illiquid stocks! )
- DMI showing trend weakening
My position is this:
Short @ $78.17
SL @ $80.02
TP @ $64.49
Insane risk to reward ratio :O
Do your own DD!
Finally, the trendline has been violated after an Evening Star Pattern formed on the daily chart.
We can clearly see that this stock has been on a strong uptrend since the pandemic, and has almost doubled from the pre-pandemic high ($52.90). Meanwhile, AVIS BUDGET has not been fully operational, sold a big chunk of its fleet and increased its debt significantly.
Few things to consider the short position:
- Fundamentally overvalued
- Bearish pattern formed on the daily chart
- Trendline violated
- MACD / Price divergence
- +DI crossing -DI on 20/04/21
- Volume has been drying-up for the past 1/2 weeks. ( Be careful with illiquid stocks! )
- DMI showing trend weakening
My position is this:
Short @ $78.17
SL @ $80.02
TP @ $64.49
Insane risk to reward ratio :O
Do your own DD!