Thursday, August 17, 2017 11:44:27 AM
Leading domestic firearms manufacturer Sturm Ruger & Co Inc (NYSE:RGR) has been declining since June 12, 2017. At that time, the stock hit a high of $68.80 a share. Today, RGR stock is trading around $48.15 a share which is over $20.00 lower than its June peak. The stock remains in a weak technical position by trading below its 50 and 200-day moving averages. Traders should note that the next major support level for RGR stock will be around the $45.00 level. It should be noted that this level was where the stock was defended in February 2015. Often, these levels will be defended when retested again.
Nicholas Santiago
InTheMoneyStocks
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