Thor Industries Inc. is a manufacturer of recreational vehicles or RVs. It sells these vehicles through market-leading brands like Airstream, Heartland, Jayco, Keystone, and KZ. Thor is among the largest manufacturers of RVs in America and has a close-to 50% market share. The post-pandemic world may prefer driving and vacationing in off-beat places away from the crowds. Thor is well placed to capture that trend. Its long term prospect, therefore, look bright.
The monthly long-term chart for Thor shows an uptrend that peaked in December 2017. Over the next 12 months, the stock dropped by a huge 66%. The price went below a historical support line at 87 as well as the bottom of the long-term trend. In early 2020, the price faced resistance at $87 but eventually broke out of that level. In September 2020, that $87 resistance level turned into support as the stock bounced off the bottom of the long-term trend. Price looks set to test the $120 level again. A stop loss can be placed below the bottom of the long-term trend at around $82.
Positions taken today at $88.23 with stop loss at $63.32, 28% below. Short to medium term traders Take profit point at $155 giving a profit about 27%
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.