Hertz Global Holdings (NYSE: HTZ) This Beaten-Up Rental Giant Looks Ready for a Comeback

In this market, finding a stock with strong upside potential that's also come down well off of its 52-week high isn't as easy as it may seem. But thanks to what I call the performance protection trade, there are high-fliers that have pulled back. Stocks such as Tesla Motors (NASDAQ: TSLA) and Facebook (NASDAQ: FB) fit this description well, as does auto and equipment rental giant Hertz Global Holdings (NYSE: HTZ).

HTZ has rewarded shareholders with a 40% gain in 2013, easily besting the benchmark S&P 500 index's 24% year-to-date showing.

However, at the time of its 52-week high of $27.75, made in mid-July, the stock was up more than 70%. Shares sold off through the rest of the summer before retesting this high in September.

Then, in late September, HTZ suffered a huge one-day sell-off that drove it below both the 50-day and 200-day moving averages. HTZ currently trades near $22.80, about 17% off its recent highs and right about where it traded in mid-April.  (more)

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