Has Anyone Seen What The RV Stocks Are Doing?
InTheMoneyStocks.com | Aug 27, 2019 03:16PM ET
It's really something when you see just how weak the leading recreational vehicle (RV) stocks are lately. The charts for these plays look absolutely terrible.
Three big companies in particular that are followed especially closely. They are: Winnebago Industries (NYSE:WGO), Thor Industries (NYSE:THO) and Camping World Holdings (NYSE:CWH) – all of which peaked in January 2018. Since that top, the stocks have been under major selling pressure. THO and CWH are making new 52-week lows at this point, 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, so if I'm looking to buy a stock in this sector, It'd be Winnebago, which is showing relative strength compared to its peers. Currently, WGO's stock is trading around the $31.85 level. The charts are telling me there should be more downside for this popular RV stock before it finds major support. The only level that would be attractive for WGO is around $25. That support level is where the stock broke out of a down trend in early 2019 and should be solid support when retested.
h3 /h3Beyond that, take a look at what the industry has to say about recession.
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