Winnebago Is Cruising
Shares of Winnebago Industries (WGO) are surging more than 13% this afternoon in very heavy trading. The recreational-vehicle maker released a stellar first-quarter earnings report before today's bell, sparking a huge gap-higher open. WGO began the session well above its previous 52-week highs and is now trading within easy striking distance of its 2011 peak. Today's news-inspired breakout action has set shares up well for more upside in the near term.Winnebago Industries (WGO) Source: TradeStation View Chart » View in New Window »
WGO began the year just above $7. After a big first-quarter move, the stock spent the next quarter tracing out a healthy consolidation. As the second half of 2012 began, WGO was back in rally mode, leaving behind a major base in the process. By the start of November, shares had reached the $14.50 area, a better than 100% move from the 2011 close. The stock began to consolidate immediately after its 10% ramp Nov. 6. For the last seven weeks, it has been capped by this spike....130 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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