SubscribeMomentum Stock: Thor Industries (THO)
Momentum Stock:
Thor Industries (NYSE: THO) produces and sells a range of recreation vehicles and small and mid-size buses in the United States and Canada. It has three reportable segments: towable recreation vehicles, motorized recreation vehicles, and buses. (Source: Bigcharts)
For most of 2006 this stock has been beaten up badly. The stock rocketed up to $56 only to be knocked all the way to $40 near October. I drew a downtrend line for you to show how the stock tried to break to the upper resistance multiple times before finally cracking the ceiling during the winter rally months between November and December. Now it appears as though the stock is once again ready to run after successful consolidation and big run this week. The MACD and DMI indicators are holding strong and you should have no reason to believe the momentum will end soon. Let’s kick this new year off right, roll up your sleeves and get ready to make some money!
Our Recommendation: Buy shares of THO at or near $46.17 and place your stop loss at $41.50 or 5% below your purchase price.
Loading ...
