Three Potential Breakouts

Here are three technical trades, one using the daily chart, one a weekly time frame and one that is highly speculative and potentially volatile. All three stocks are currently testing pattern resistance and looked poised to breakout.

Shares of the car and equipment rental company Hertz Global Holdings (HTZ) are breaking out of a channel that they have traded in since the beginning of the year. The relative strength index is above its centerline and 21-period signal average, and moving-average convergence/divergence has made a bullish crossover and is above its centerline. Since the stock price formed a small triple bottom in April on its 200-day moving average and at the channel low, Chaikin money flow and the money-flow index have improved and reflect accumulation. Hertz Global is a buy after a close in upper candle range above channel resistance, with an initial trailing stop under the 50-day moving average....266 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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