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Winnebago Industries Crosses Below its 10-day MA (WGO)

Published on Thu, 02/21/2013 - 12:21
By Robert Cotter

Winnebago Industries (NYSE:WGO) shares have crossed bearishly below their 10-day moving average of $18.49 on a volume of 224K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Winnebago Industries share prices have been bracketed by a low of $8.14 and a high of $20.10 and are now at $17.96, 121% above that low price. The 200-day and 50-day moving averages have moved 0.73% higher and 1.16% higher over the past week, respectively.

Potential upside of 11.4% exists for Winnebago Industries, based on a current level of $17.96 and analysts' average consensus price target of $20.00. The stock should find initial support at its 50-day moving average (MA) of $17.62 and further support at its 200-day MA of $12.78.

Winnebago Industries, Inc. manufactures motor homes that are self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities. The Company's motor homes are sold through dealer organizations under the Winnebago, Itasca, and ERA brand names.

By Robert Cotter
rcotter@fnno.com