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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

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.

Read Also:  Viking Global Opens Fresh Apple Stake Worth Nearly $1 Billion As Big Tech Trade Roars Back

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.

Read Also:  Coatue Cuts Tesla Position By 96%, Trims Nvidia While Buying Lucid And Hertz

Photo: vieninsweden / Shutterstock

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This article Coatue's Philippe Laffont Bought This Beaten-Down Stock — Now It's Flashing A Golden Cross originally appeared on Benzinga.com

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