TrueCar, Inc. (NASADQ:TRUE) Is Trying to Rebound This Week

[[tagnumber 0]]Shares of TrueCar, Inc. (NASADQ:TRUE) bounced up yesterday, trying to recover some value this week. The stock dropped to its lowest levels since the IPO in May last year after the company released some second quarter results, yet it looks like it could climb back higher into the recent trading range.[[tagnumber 1]] [[tagnumber 2]][[tagnumber 3]][[tagnumber 1]] [[tagnumber 0]]TRUE jumped 15.75% during the last trading session and closed the market at $6.76 for a share. The trading volume was not high enough, however, and technical indicators on TRUE chart could not reverse to take a bullish position. Technically, the only buy signal for today comeS from RSI which points up and could cross the oversold level of 30.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]Yesterday, TRUE released a press release saying that auto sales to consumers are expected to rise 4.2% in July. The Motor Vehicle Sales reports for July is actually going to be released on Monday and it will show whether the uptrend on that market is still holding.[[tagnumber 1]] [[tagnumber 2]][[tagnumber 12]][[tagnumber 1]] [[tagnumber 0]]Also, the company‘s complete second quarter report is supposed to come out next Thursday, thus the stock could get significant short–selling before the 10–Q is released. Earlier this month, TRUE tanked to the current levels as the company gave some preliminary data. According to the estimates, its net loss has expanded further while the management also had to cut down the sales guidance for the year due to an outflow of clients.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]These were no optimistic statements, however, the excessive sell–off of TRUE was also enhanced by the general slump of technology stocks in the last two weeks and therefore it could regain some value through a upward correction this week.[[tagnumber 1]] [[tagnumber 2]] [[tagnumber 1]]