Avis Budget Group, Inc. : Continuation of the bullish trend
January 03, 2013 at 02:32 pm
By
Entry price | Target | Stop-loss | Potential |
---|
US$20.77 |
US$0 |
US$18.85 |
-100% |
---|
Avis Budget Group could reach its USD 23.75 long term resistance.
The company shows strong fundamentals. Firstly, the security is undervalued compared to its peers with an EV/Sales ratio estimated at 0.6 by the Thomson Reuters consensus for this year. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
Technically, the stock shows a strong upward trend, strengthened by the upside breakout from a consolidation channel USD 17.3/16.1. The bullish consensus should continue until the USD 23.75 long term resistance.
In consequence, a new bullish fluctuation could lead the security toward its long term resistance. Investors can take a long position in Avis Budget Group with a first target price at USD 23.75. A stop loss will be fixed under the short term support at USD 19.
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