Waiting for reversal of the bearish trend

Aug 19, 2019

On August 13th, I opened a small position with NYSE:HTZ basing my decision on the following factors:

• The price reached the 13.23 level, which was tested several times, and it served as a support.
  
• The RSI indicator was reaching its oversold level of 35.14
  
• Formation of the daily Doji candle. Such a candle at the end of the bearish trend was indicating about possible trend reversal.
  

Aug 19, 2019

Note

On August 16th I added another long position with NYSE:HTZ because of the following factors:
1. The closing price was above the previous close price
2. Oversold level of the stock
3. Bullish divergence of the RSI oscillator

This might not be a reversal yet, but a possible accumulation.

Aug 20, 2019

Note

'm watching how #HTZ will behave at the 12.99 level, which might serve as resistance from Fib trend extension. However, if we break it - the next level will be 13.79 (Fib 0.236) which almost match with 13.64 level (Fib trend extension). Ultimately, my long-term goal is 16.42 area

tradingview.com/chart/T5z8P7Tq/

Oct 21, 2019

Trade closed manually

I closed this long position on September 10, 2019. My target was not reached, so I sold it at $14.23. Reason - momentum was sold