Hertz technical analysis.

There is a special concern regarding the situation of Hertz this very weekend. It seems that after a CFO change, the company has decided to reformulate its financial statements of 2011, 2012 and 2013. Allowance for doubtful accounts is the big hidden monkey in the room, this time again. The announce echoed the market all around the world and casts some doubts about the future performance of the stock, with a good track record since 2009.

Daily chart.

We can see that November, 8 an April, 15 help to find a short term floor for the price fall. Now RSI is a little oversold and we can expect some rebound on Monday or Tuesday to try the lost level in 29 dollars. If it happens it is a good point to sell.

Now, take a look through the weekly chart. We can see the price did not violate the trend, and there is some safe space until 25 dollars. Those of you still trusting in the stock should consider this as a very safe stop loss. Lost volume in Sept. 23 and Nov., 04 at around 21 tell us we have still to visit this point in next weeks. If lost 21, the next base floor is around 17 dollars area. 

Going through monthly chart to catch the long term overall state. Volumes higher in falls since late 2013. Macd strongly overbought and RSI anticipating plummets out of safe zone. We´d better look Hertz from outside while things calm down.