ITMS
5 years ago
Has Anyone Looked At The RV Stocks Lately? $WGO
It is really something when you look at the weakness in the leading recreational vehicle (RV) stocks lately. The charts for these stocks look absolutely terrible right now. There are three big companies that like to follow in the industry group and they are Winnebago Industries Inc (NYSE:WGO), Thor Industries Inc (NYSE:THO) and Camping World Holdings Inc (NYSE:CWH). All of these leading RV stocks peaked out in January 2018. Since that top, these stocks have really been under major selling pressure. THO and CWH are making new 52-week lows at this time and showing relative weakness.
WGO is a very weak looking chart, but it is much better than THO and CWH right now. This stock is at least off of its 52-week lows right now. So, if I want to buy a stock in this sector I would likely select WGO as it is showing relative strength compared to its peers. Currently, WGO stock is trading around the $31.85 level. The charts are telling me there should be more downside in the cards for this popular RV stock before finding major support. The only level that would be attractive for WGO stock is around the $25.00 area. This support level is where the stock broke out of a down trend in early 2019 and should be solid support when retested.
Nicholas Santiago
InTheMoneyStocks
PURA VIDA
13 years ago
The news shows people are actually accumulating this pig?
I mean, take a look at the financials. Why would anyone want
to buy this company now ?
Even (most likely cheating) when they are showing a total .04 per share earnings over the last quarter, and they show NO operating capital....Looks really to me like they are going to be facing bankruptcy, and who is buying these behemoths with gas still 3.65 per gallon on a national basis ??????
I see maybe a small blip since WGO has popped above it's 6 month downtrend. Then, with this crappy economy and no jobs, high gas prices, etc...continue back on the downtrend.
PURA VIDA
13 years ago
Sure looks like WGO is in another downward channel as they were back when gas went to $5 per gallon back in 2008 right before ole GWB left office.
Almost put WGO out of business then, and it appears that this could be another run down to $3 per share as back then. They were GIVING Recreational Vehicles away back then, and they may have to do it again as gas quickly approaches $5 going into the summer.
Take a look at the downward channel. More specifically, take a look at the repetitive pattern...sideways to up for about 13-15 trading days, then a 2 to 3 day 2 to 3 dollar plunge, then sideways to upper again for 13-15 days...then another 2-3 dollar plunge.
We are right at the verge of another 2-3 dollar plunge as we have made our way sideways to the upper bollinger, the 50 day EMA, and the top of the downward channel.
Let's see if this chart will continue to repeat itself again.
SHORT baby SHORT
S4