Of course, a breakout of this type simply puts the stock into a rectangular consolidation pattern, but in this case the sharp move this morning in a modestly lower market environment may reflect the closing of the company's sale of its Mexican payday lending operation for $50 million in up-front cash, deferred payments, and the refinancing of that units debt obligations to exclude a guarantee from EZPW.
At a recent conference presentation,, management reaffirmed its expectation that the deal was on track to close by the end of this month (one week to go).
The closing of that sale has long been viewed as a catalyst for a stock price increase/
At a recent conference presentation,, management reaffirmed its expectation that the deal was on track to close by the end of this month (one week to go).
The closing of that sale has long been viewed as a catalyst for a stock price increase/
Commentaire:
I guess you could also say that prior to this morning's upward candle, this was resembling a Head & Shoulders......