During the height of the coronavirus scare the recreational vehicle (RV) market was one of the best performing industry groups in the stock market. Leading RV stocks such as Winnebago Industries (WGO), Thor Industries (THO) and Camping World Holdings (CWH) were major winners from the pandemic. These leading RV stocks have been steadily falling over the past several months. Now is the time to start looking closely at the charts for trade levels.
Winnebago Industries (WGO) recently declined below it’s important 200-day moving average. This puts this stock in a weak technical position on the charts and often indicates further downside for the shares. Traders should watch the $40.00 area for major support for WGO stock. This level is where the 200-week moving average is located. It is also an area where the stock broke out to the upside on May 4th, 2020. This is a level where I will look to get long WGO stock as it should be a solid risk / reward trade level.
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