Avis Budget Earnings Preview: CAR stock needs strong guidance for next rally

Avis Budget stock is in the midst of a retracement of a two-month rally that topped on April 21 swing high at $323.78.. The stock just dipped below the 20-day Simple Moving Average on Friday, which provided a small bearish hint ahead of the earnings call.

On the other hand, a positive conference call from Avis with strong results would allow CAR shares bulls to go back into action and. First resistance is located at $281.08 and then the previous swing high at $323.78 would come into play next. Above there, November 2 2021 all-time daily close high at $358.67 hit after the huge Avis Budget earnings from Q3 2021 would be the next level in line.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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