The “Chart of the Day” is Winnebago Industries (WGO), which showed up on Friday’s “NYSE 12-month low” list and may be a good candidate for a short position. Winnebago on Friday closed 5.01% lower and posted a new 13-month low. Winnebago sank to a new 13-month low due to the recent downgrade in expectations for US economic growth and particularly for consumer spending on relatively high-ticket discretionary consumer items such as campers. The weekly Trendspotter(tm) has been short WGO since May 24 at $12.13. Winnebago Industries, with a market cap of $278 million, is a leading U.S. manufacturer of motor homes and self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “New Highs/Lows” page. Then we clicked on the entry for NYSE 12-month lows. Then we sorted the list by Percent to find the largest percentage losers. A new 12-month low is a sign of downside momentum.
Barchart’s Opinion trading systems are all a Sell and Barchart’s daily Trendspotter(tm) trading system is a “Sell.” Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- Trendspotter: Sell
- Short-Term Indicators: 100% Sell
- Medium-Term Indicators: 100% Sell
- Long-Term Indicators: 100% Sell
- Overall Average 100% Sell
Barchart links for further information:
Quotes and Charts, Technical Analysis, Barchart Opinions, and Chart of the Day Archives
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