DALLAS, Texas - TwinTrader.com announces the publication of Breakout for PRAA; highlighting public companies on the move and what’s behind the surge.
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“Portfolio Recovery Associates Inc. provides outsourced receivables management and related services in the United States. The company engages in the purchase, collection and management of portfolios of defaulted consumer receivables. These defaulted consumer receivables are the unpaid obligations of individuals to credit originators, including banks, credit unions, consumer and auto finance companies, and retail merchants…
“In a bad economy, debt recovery businesses thrive. Considering that the economy be hobbling along for some time, Portfolio Recovery Associates should be doing a brisk business. Institutions have been buying this stock as evidence mounts for a weaker economy than many analysts had anticipated…
“The MACD is bullish and gives no indication of a slowdown. Early next week should give us a better clue as to the strength of this breakout. If the stock falls back to the 50-day and 200-day MA, this may be a good time to enter the stock...”
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