Winnebago Industries, Inc. WGO shares are trading higher by $0.45 (2 percent) at $28.45 in Wednesday's session. Before the open, the company reported a Q2 EPS beat of $0.03 along with a $25.5 million beat for sales.
Its much higher opening print of $29.75 has attracted more sellers than buyers. The reason being that high is $0.23 above Tuesday's high of $29.55. It's also just ahead of the pair of highs from March 17 ($29.95) and March 20 ($30.02). Keep in mind, there were many trapped buyers in the issue from Tuesday's session as it swooned from Monday's close ($29.40) to $27.80 at day's end.
In textbook technical fashion, the ensuing decline has found support just a nickel under Tuesday's low ($27.60) at $27.55. So far, the rebound off the low has taken the issue into the mid-$28.00 handle.
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