Avis / Budget (CAR) is finally breaking out of a long term horizontal move. Recently it pushed above $42 and went sideways. At this point, the consolidation after breaking out looks like it is ready to accelerate to the upside. The SCTR ranking looks good. The new high in Relative Strength is shown in purple. The price action is really starting to turn higher.
If your looking at a rental car, you may chuckle that the insurance per day is more than the car rental fee per day. But so far this profit margin appears to be turning the tide higher.
Watch for a ChartWatchers edition this weekend.
I did post a new Commodities Countdown Video for you to roll through.
Greg Schnell, CMT, MFTA