Doing donuts in the parking lot in Avis Car Rental

Now don’t get me wrong here, I am not advocating you go to $CAR to get a rental so that you can go do donuts. LoL.

What I do want to point out is that $CAR has been building a base, price going in circles as reflected in the Daily chart:

CAR_BThis is a nice base built over the past month but is it ready to peel out for more up? Let’s take a look at another perspective using the PnF chart:


CAR_PnFUh oh. The Price Objective of 27 has been met. I am not a fan of this High Pole here either. Let’s go see what the Weekly says:

CAR_weekly_cleanA clean look at the chart with no Trend Lines or Support/Resistance Lines either. Now here is the same chart with a rising Trend Line:

CAR_weeklyI think it is time for some more donuts while price decides. Look for a Breakout play on a move over 29.50 on volume.

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