Skip to main content

Technical analysis shows the RV manufacturer is set to rise.

Photos.com/Getty Images

Thor Industries rallied from $9.54 (U.S.) to $36.49 (A-B) then settled in a trading range mostly between $20 and $37 (dashed lines). The stock pierced above the top of this range in late 2012 and reached $45.75 to signal the breakout and the start of a new major up-leg (C). A pullback toward $39-$40 would provide a good entry point. Only a sustained decline below about $35 would be negative.

Point & Figure measurements provide targets of $48 and $54. The large trading range (dashed lines) 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.

Story continues below advertisement

Report an error Editorial code of conduct
As of December 20, 2017, we have temporarily removed commenting from our articles. We hope to have this resolved by the end of January 2018. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.