Roadtripping higher in Winnebago

• Posted by Greg Harmon
• on November 2nd, 2015

Winnebago stock ($WGO) had been driving lower since making a high just under 25 in June. But since the beginning of October it has put on its left turn blinker and is slowly turning higher. I guess it takes a while for a 35 foot mobile adventure vehicle to turn things around.

The chart below shows the rounded bottom that has formed over the past 2 months. Since the low October 2nd it has made a series of higher highs and higher lows. It broke above prior support last week and today is moving over the consolidation from August.

The Bollinger Bands® are turning higher as well. And the momentum indicators are rising. The RSI is on the edge of the bullish zone, while the MACD is positive as it moves higher. The next possible trouble point comes at 22.55 and then 23.75 before the prior top. Use the break out level as a stop loss for a great reward to risk trade to the upside, or consider the November 21 Calls, offered at about 85 cents, for a defined risk way to participate in the upside. The company reports earnings next December 17th.

Get my ebook, Markets for 2015 and Beyond, a long term forecast with all proceeds going to charity.

Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through September 2015 and sign up here

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus