Hertz Global Holdings, Inc (NASDAQ:HTZ) stock may finally be showing early signs of stabilization — and billionaire hedge fund investor Philippe Laffont appears to have noticed.
Coatue Management disclosed a new position in Hertz during the first quarter, putting the battered rental-car company back on the radar of traders already watching for a potential technical reversal.
Now, Hertz has flashed a so-called ‘Golden Cross’, a closely watched chart pattern that occurs when a stock's 50-day moving average rises above its 200-day moving average — often viewed as a bullish long-term momentum signal.
Chart created using Benzinga Pro
Hertz's Chart Is Starting To Shift
The setup is notable because Hertz has spent much of the past year under pressure amid concerns around electric-vehicle depreciation, used-car pricing volatility and broader operational challenges.
But while the golden cross may look bullish on paper, the technical picture still appears mixed.
Hertz shares remain below several shorter-term moving averages, while momentum indicators like the MACD (moving average convergence/divergence) continue trending weakly. The stock's relative strength index, or RSI, also remains below neutral territory, suggesting buyers have not fully regained control of near-term momentum.
That tension could make the setup especially interesting for traders looking for early-stage reversal signals rather than fully confirmed breakouts.
Unlike many golden crosses that emerge after stocks have already staged major rallies, Hertz still looks more like a deeply beaten-down recovery trade attempting to carve out a bottom.
Philippe Laffont Adds A ‘Smart Money' Angle
Laffont's involvement adds another layer of intrigue to the story.
Coatue is best known for technology-focused investing rather than traditional deep-value rental-car turnarounds, potentially raising questions about whether the hedge fund sees broader recovery potential or hidden asset value inside Hertz's business.
The stock has also become something of a contrarian setup after years of volatility tied to bankruptcy restructuring, fleet-management challenges and EV-related headwinds.
For now, Hertz's chart may be flashing one of Wall Street's favorite bullish signals — but the stock still appears caught between improving long-term technicals and cautious short-term momentum.
Photo: vieninsweden / Shutterstock
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