Recession Fears:
Recessions are rearview mirror indicators to me, and I am by no means an economist, but once you find out you are in one, things are most likely ready for a turn. We have recorded one quarter of negative GDP growth, and perhaps we will see another one in the next quarterly data but some names used to be well known with foreshadowing if that was to occur. Below is the chart of RCII and when this name begins to perk up the theory was if no one could afford to buy consumer products they would rent them (or with what limited capital consumers have they would purchase things on a short-term basis). As we can see from the chart below, it is forming a bottoming process in my opinion over the last 10 weeks. It still has technical damage to repair and is well below its downward sloping 200-day SMA, but it has registered 10 consecutive CLOSES above the 50-day SMA. Appealing too is the dividend yield near 5%. Will be interesting to see if peer UHAL, which has gained ground in just 6 weeks thus far in 2022, can hold the very round 500 figure.