THO - Reading the Charts in Thor Industries #THO to Generate Trading Plans

When we read the #charts for Thor Industries (NYSE: THO) we are able to reach a #conclusion that may not be otherwise discernable.  We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented.  These are what create trading plans.  The example here is for THO and it demonstrates this practice.  This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .

Technical Summary

Longer Term Trading Plans for THO

May 12, 2021, 7:15 am ET

Our Longer Term Plans for THO help you determine where to buy, sell, short, and set risk controls. Use this in conjunction with our Longer Term Market Analysis to go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis and see how it helps you work with this THO Report.

THO - (Long) Support Plan

The technical summary data tells us to buy THO near 126.68 with an upside target of 144.77. This data also tells us to set a stop loss @ 126.31 to protect against excessive loss in case the stock begins to move against the trade. 126.68 is the first level of support below 134.46 , and by rule, any test of support is a buy signal. In this case, support 126.68 is being tested, a buy signal would exist.

THO - (Short) Resistance Plan

The technical summary data is suggesting a short of THO as it gets near 144.77 with a downside target of 126.68. We should have a stop loss in place at 145.19though. 144.77 is the first level of resistance above 134.46, and by rule, any test of resistance is a short signal. In this case, if resistance 144.77 is being tested, a short signal would exist.