SmarTrend Comments on Thor Stock Action

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Thor Industries traded in a range Thursday (Jan. 27) that spanned from a low of $36.61 to a high of $37.22, SmarTrend reported.

On Thursday, the shares gained 0.98%, which took the trading range above the three-day high of $36.97 on volume of 356,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Shares of Thor Industries are currently trading above their 50-day moving average  of $33.76 and above their 200-day moving average of $30.39. Look for the moving average to provide support for a short-term pullback in the shares.

SmarTrend currently has shares of Thor Industries in an Uptrend and issued the Uptrend alert on Jan. 12 at $35.59. The stock has risen 3.3% since the Uptrend alert was issued.

“SmarTrend expects the share price to pull back toward the $36.97 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Recreational Vehicles industry,” the service concluded.