Technical Alert: Hertz Global Holdings (HTZ) forms bullish "Upside Breakout" chart pattern

2012-11-29 12:55:33 -

Recognia, the industry leader providing actionable investment research products

for self-directed investors and trader, has detected an "Upside Breakout" chart

pattern formed on Hertz Global Holdings Inc (HTZ). This bullish signal indicates

that the stock price may rise from the close of $15.57 to the range of $17.00 -

$17.40. The pattern formed over 67 days which is roughly the period of time in

which the target price range may be achieved, according to standard principles

of technical analysis.



The report, issued on Thursday says that the price broke upward out of a trading

range suggesting we're entering a new uptrend. The Upside Breakout pattern

represents a trading range in which prices move sideways between two parallel

horizontal lines. It's often a pause or congestion area within an existing trend

though sometimes the breakout results in a reversal to the prior trend. Either

way, an upside breakout through the upper resistance line signals an end to the

consolidation period and the start of an uptrend.



This bullish pattern can be seen on the following chart and was detected by

Recognia proprietary pattern recognition technology



.



See The Chart:  bit.ly/RecogniaHTZ





View The Source Report:  bit.ly/RecogniaHTZ





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Source: Equity Brief via Thomson Reuters ONE

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