For the past few decades, a daily close in winnebago below 50% of the recent high, has been a reliable foreshadow of major declines in the broader markets.
Notes on WGO (Positive and negative)
WGO has been on IBD50 several times.
Heavily owned by institutions.
SWS has it undervalued at $42, future cash flow estimates $80/share.
Looks to be forming a consolidation period, generally 7-8 weeks is good timeframe.
RSI line is pretty low at this point.
Winnebago Industries Board of Directors Approve Quarterly...
with a final Wave 5 Ending Diagonal. The 5th wave of the 5th ED is also a Ending Diagonal. This is a most unusual chart that helps to amplify the severe and destructive powers of Ending Diagonals.
This thing has been moving so aggressively such that there is so much overlapping. Couldn't find any way wave 4 would not overlap wave 1 except this multiple diagonals.
With their Earnings coming up and the last 30 days being a strong indicator - I think pushing in 25% on 12/19 with a hold to see what happens before pushing in anymore might be a smart strategy.
WGO is looking bullish on the weekly chart, as the MACD has crossed over on higher bullish volume, as of 5/30/217. WGO rejected the 200dma on 5/31/2017 and rebounded over 10% as of today.
Although the stock is channeling in a bearish trend, the weekly bullish volume may invalidate the channel and finally break it at the .382 FibR on the weekly at $30,...
Looks to be consolidating after a Bearish RSI Divergence. RSI is below it's 8 day moving average. RSI still above 50 though Need to watch for a dip $WGO
Winnebago Industries, Inc. is a manufacturer of a portfolio of recreation vehicles (RV) and marine products used primarily in leisure travel and outdoor recreation activities. The Company produces its motorhome units in manufacturing facilities in Iowa and Oregon; its towable units in Indiana; and its marine units in Florida. Its segments include Motorhome, Towable and Corporate / All Other. Its Motorhome segment is comprised of products that include a motorized chassis, as well as other related manufactured products and services. Its Towable segment is comprised of products which are not motorized and are generally towed by another vehicle, as well as other related manufactured products and services. The Corporate / All Other category includes the Winnebago specialty vehicles and Chris-Craft marine operating segments as well as expenses related to certain corporate administration expenses for the oversight of the enterprise.
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WGO
