HTZ (Hertz Global Holdings Inc.) has formed a bearish pennant on this bounce back to resistance (shown here on the daily chart but also visible on the weekly chart). The pattern measurement (dotted arrow) lines up nicely with the long-standing first target of 18.20. A new short entry or add-on will trigger on a break below the pattern. As such, HTZ will be added back added back to the Short Setups category as well as remain an Active Trade for now. New suggested stops have been added added just above significant resistance levels. HTZ is an Active Trade that originally triggered a short entry back in June on the break down below the bearish rising wedge pattern. This short trade, which remains profitable despite the broad market moving much higher since the entry was triggered, was and still is intended to be a long-term swing short trade based largest off the weekly chart (click on the “HTZ” tag at the bottom right of this post to reference the prior notes & charts).
Bearish Pennant Formation on the HTZ Short Trade