The right time to short CAR?
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!
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!
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.