Winnebago Bears Firmly in Control

Published on Tuesday, 24 August 2010 12:34 Written by Christopher Lynn

New York, August 24th (TradersHuddle.com) - Shares of Winnebago Industries, Inc. (NYSE:WGO) booked a new 52 week low by trading below $8.38, traders are definitely monitoring Winnebago's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

Winnebago Industries, Inc. (NYSE:WGO) manufactures self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities. Its motor homes are sold through dealer organizations under the Winnebago, Itasca, Rialta, and Ultimate brand names. Winnebago also manufactures extruded aluminum, commercial vehicles, and components.

Winnebago is currently trading -0.6% versus its previous trading session close, and it has calculated support and resistance at $9.0401 and $11.08 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -1.08% from its previous trading close, which means that Winnebago stock is outperforming the overall market.