RCII - How Stock Traders Daily uses Price Action in Rent-a-center #RCII to Define Opportunity and Risk

Both #opportunity and #risks can be drawn from looking at the #priceaction in Rent-a-center (NASDAQ: RCII).   This is a practice commonly referred to as reading the charts.  The summary data for RCII below demonstrates this, and there are trading plans that help investors understand how to utilize the data too.  This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .

Technical Summary

Long Term Trading Plans for RCII

May 8, 2021, 5:00 am ET

The Technical Summary and Trading Plans for RCII help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this RCII Report.

RCII - (Long) Support Plan

The technical summary data tells us to buy RCII near 56.65 with an upside target of 63.83. This data also tells us to set a stop loss @ 56.49 to protect against excessive loss in case the stock begins to move against the trade. 56.65 is the first level of support below 59.38 , and by rule, any test of support is a buy signal. In this case, support 56.65 is being tested, a buy signal would exist.

RCII - (Short) Resistance Plan

The technical summary data is suggesting a short of RCII as it gets near 63.83 with a downside target of 56.65. We should have a stop loss in place at 64.01though. 63.83 is the first level of resistance above 59.38, and by rule, any test of resistance is a short signal. In this case, if resistance 63.83 is being tested, a short signal would exist.