AI
Wednesday, March 21, 2018 11:10:08 AM
Leading recreational vehicle(RV) maker Winnebago Industries Inc (NYSE:WGO) is trading sharply lower today after reporting earnings. The popular RV stock is declining by more than 7.0 percent to $40.47 a share. Traders should note that WGO stock is now trading below it's important 50 and 200-day moving averages. This is a weak chart formation and indicates lower prices to come. The next major support level for WGO stock will be around the $36.00 area. This level is where WGO broke out in September 2017. Often, prior break-out levels will be major chart support when retested. I will be looking to trade WGO on the long side (buy) around the $36.00 level.
Nicholas Santiago
InTheMoneyStocks
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