NYSE:RGR   STURM RUGER & CO INC
16 0 1
2 months ago
Quite a bit of confluence taking shape at market level for RGR             0.80% .
I originally started by trying to relate a fundamental style analysis within the technical charting analysis. I charted the 6-8 month season for gun sales and compared 2015 to 2016 by actually drawing over price action, copying in and placing it over the 2016 season to see any correlation. This actually worked out surprisingly similar as you can see by the chart. Whether this means anything to the rest of the analysis, I do not know.

I see a rising channel (Red) with market price sitting right on the support level. We see price being held by the support level, hopefully meaning this will continue to hold. If price falls, considering the significance of this level, it could fall to the next support level at 56 or 49.
I have two Moving Averages , where the 250 EMA (Purple) is helping show it's significance on holding it's level. This level converges great with the channel support, as well as finding the .786 retracement level (Blue).

The (orange) boxes identify the consolidation range between both season's, correlating the similar, almost identical, range.
Comment
2 months ago
Comment: If price closes below the rising support level, shorting could be an option, where stops can fall below .618 retracement of the last leg (63.21), and targets 55.45 area. 1:1 risk ratio
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