Price Update (17 Mar 2024)
- WGO had fallen (about 11%) in sympathy with THOR etc past weeks
- Earnings on 21 Mar will further put a dent into WGO recovery with a guidance towards weakness
- But where will it go?
- Trend channel points to a support around 62
- Bear flag extension points to 62 also but a super bearish extension goes to 55
- The higher rates for longer will impact the recovery of WGO
Bull Case
- It fills gap up to 66 (50%) and full gap fill of 68
Bear Case
- Earnings negative reaction brings it to test 62 with a further softening to 58 or 55 where base is found
My plays
- Cost base of 55 in shares and puts strikes 62 and 58
- Accumulation of more is set at 55
Good luck, all
WGO Daily - 17 Mar 2024
@melson @TigerStars @macroB @CaptainTiger @Deposit
$Winnebago(WGO)$
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