NEW BULLISH Plays
Thor Industries - THO - close: 39.63 change: +0.68
Stop Loss: 38.40
Current Gain/Loss: unopened
Entry on January xx at $ xx.xx
Listed on January 08, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 647 thousand
New Positions: Yes, see below
Why We Like It:
Share of THO soared to new five-year highs back in November. The multi-month rally produced a big spike and THO has since seen a normal 50% retracement of the move (see chart). Now shares of THO are starting to advance again after four weeks of consolidation.
Today's show of relative strength (+1.7%) also produced a bullish breakout above its 40 and 50-dma. Readers could buy THO now but the $40.00 level might be round-number resistance. I am suggesting a trigger to open positions at $40.15. If triggered our target is $44.50. More aggressive traders may want to consider using call options (I suggest March calls).
Trigger @ 40.15
Suggested Position: buy THO stock @ (trigger)