Hertz....

I was very pissed last week when I received a letter on the charge on me by Hertz over a "perceived damage" caused by accident during my trip to Australia last month. It made me so angry that I rant it out on my the other blog http://holistic-denzuko1.blogspot.com. I now have to go through the whole trouble to appeal as if I am the guilty party.

Because I am really mad at what they are doing, I took a look at their chart today. I don't have the historical data so I used the service of my broker firm.

Fig 1 Hertz Weekly Chart

To be honest, I am very surprise by 2 things, firstly it was only listed in USA since end 2006. It has been on a down hill since then until end of last year when it bottomed out, done a Double Bottom(DB), broken the neck line and hover above it.

I have to admit, the set up looks good. it is presently at USD8.44 and with the DB target at USD10, there are some way to go. In fact I am looking at a Reverse Should-Head-Shoulder formation in progress. On completion, the movement can reach USD18.40.

On the hind side, Should it retrace,USD6.64 would be the support level. I am likely to put my stop loss at this level.