NOTES
HTZ has recently secured 1.65 Billion in funding, this has provided a potential solution to their current bankruptcy situation which has caused the stock to tank so low. This has sparked a whole new set of impulse waves (likely a first wave extension). Generally speaking a first wave extension means that the 5th impulse wave will stop around the 1.618 fib extension of the first wave - in this case likely the $4.00 range.
Likely Scenario: Timeline 1-2 Days
1 - HTZ breaks through in premarket-early morning on Monday breaking through 2.87 - proceeding to the $3.40 price range followed by a slight pullback in the cards to the 2.90 range.
2- HTZ continues from the 2.90 range all the way up to the 1.618 fib extension of $4.00 per share
Alternate Scenario: Timeline 1 Day
1 - HTZ fails to breakout above the 2.87 and continues consolidating lower into the day
Key Takeaways
One scenario is bullish, the other bearish. For this reason, I'd reccomend that if a breakout above the 2.87 occurs tomorrow, you use the $2.65 price point as a STOP LOSS
HTZ has recently secured 1.65 Billion in funding, this has provided a potential solution to their current bankruptcy situation which has caused the stock to tank so low. This has sparked a whole new set of impulse waves (likely a first wave extension). Generally speaking a first wave extension means that the 5th impulse wave will stop around the 1.618 fib extension of the first wave - in this case likely the $4.00 range.
Likely Scenario: Timeline 1-2 Days
1 - HTZ breaks through in premarket-early morning on Monday breaking through 2.87 - proceeding to the $3.40 price range followed by a slight pullback in the cards to the 2.90 range.
2- HTZ continues from the 2.90 range all the way up to the 1.618 fib extension of $4.00 per share
Alternate Scenario: Timeline 1 Day
1 - HTZ fails to breakout above the 2.87 and continues consolidating lower into the day
Key Takeaways
One scenario is bullish, the other bearish. For this reason, I'd reccomend that if a breakout above the 2.87 occurs tomorrow, you use the $2.65 price point as a STOP LOSS
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SL hit - Don't have a read on current price action.
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Re-Entered in after hours - support at long-term anchored VWAP
**2.27 per share**
Stoploss at 2.03
**2.27 per share**
Stoploss at 2.03
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