Is Sturm Ruger Out Of Ammo?
InTheMoneyStocks.com | Aug 17, 2017 12:11PM ET
Leading domestic firearms manufacturer Sturm Ruger (NYSE:RGR) has been declining since June 12, 2017. Back then, the stock hit a high of $68.80 a share. Today, it's trading around $48.15 a share, more than $20 below its June peak. The stock remains in a weak technical position, trading below its 50- and 200-day moving averages.
Traders should note that the next major support level for RGR is around $45. It should be noted that this level was where the stock was defended in February 2015. Often, such levels will be defended when retested again.
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