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Technical analysis shows Thor Industries, manufacturer of Airstream recreational vehicles, is set to rise.
Technical analysis shows Thor Industries, manufacturer of Airstream recreational vehicles, is set to rise.

What the Charts Say

Bullish on Thor Industries Add to ...

In our previous publication (Feb. 2, 2013 - $42.35 U.S.) we reported a breakout from a large trading range (dashed lines). Following this report, Thor Industries Inc. started a new major up-leg and reached a high of $59.94 for a 42-per-cent appreciation in less than one year (A). Subsequently, the stock settled in a small triangle pattern made up of lower highs and higher lows (dotted lines), followed by the resumption of the up-trend and a new high of $64.71 (B) for a 53-per-cent appreciation since our report. Only a decline below about $54-$55 would be negative.

Point & Figure measurements provide targets of $69 and $74. The large base supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

Follow us on Twitter: @Monicarizk1, @RonsBriefs

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