HTZ was a short trade setup that recently triggered an entry on the break below the daily rising wedge pattern. The stock then went on to make a successful backtest of the pattern where prices were rejected and turned lower. However this trade is still around the original entry point and in light of the recent backtest and this very bearish (IMO) weekly chart, HTZ is still offering an objective short entry around current levels with the appropriate stops overhead.
Another possible entry criteria for long-term swing traders would be to wait for a confirmed weekly close below the uptrend line shown on the weekly chart. My stop preference on this trade is a solid weekly close above the previous all-time high of 27.20 which although significant in percentage terms from current levels (about 10%), still gives this trade a favorable R/R to the preferred target of 17.05 (over 30%). As the targets and stops are relatively large in percentage terms, my preference is to use a fractional position of about 1/2 to 3/4 of my average position size. Updated daily & weekly charts:
