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....
Gun stocks are taking a hit following reports of slowing NICS background checks for the month of May. This created downward momentum which I believe is a buying opportunity for long term investors. $RGR remains my favorite in the firearm industry.
Green- Buy Target
Potential Long setup here on Ruger. Earnings come out tomorrow. I think the earnings will be slightly above estimates and Q1 will be a blowup surprise to the upside, I'm most interested to see how they guide on this. Q4 only captured a few days of the reactionary buying following the tragic shooting and anti-gun touting. The stock clearly moved up in...
