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Thor Industries Reverses Lower, Here's The Trade

Published 03/08/2018, 02:30 PM

Thor Industries (NYSE:THO) is a leading manufacturer of recreational vehicles in the U.S. and Canada. On Thursday the stock rallied higher after the opening bell, trading as high as $127.50 a share. Unfortunately, since that high-pivot the stock has reversed lower and is now trading down by $4.56 to $117.86 a share. The stock is now testing the 200-week moving average for the second consecutive week. This tells me that the stock is now vulnerable to trade lower in the near term. Traders and investors should now watch the $109.75 area for support. This is a level that would interest in the stock on the long side.
Thor Industries

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