Accumulation, falling wedge, and 1.618 extension are done

Prices have fallen to the 1.618 extension, clear accumulation activity on the volume, also a falling wedge pattern which are normally bullish.

Fundamentally, RCII is a M&A target.

Kommentar:

Engaged Capital has won it's proxy fight with the existing Rent-A-Center board installing their 3 proposed board members. This will lead to RCII more than likely exploring additional options such as a sale of the company. If you a long from around $10 like me, that's great news.