SWBI has risen 400% from the March lows, is that warranted? It looks like in recent weeks considerable register ringing has taken place, so maybe the risk is to the downside going into earnings. The stock has lost the 20ma as support ALL technical indicators are bearish. Previous selloffs have all happened in August, 2007 & 2016 almost to the exact...
With gun sales in the US going through the roof, it shouldn't be any surprise that Smith and Wesson has been doing particularly well. Big volume yesterday and the RSI shows there is probably still value in it. Could be worth a watch. (a 16% trail would keep you in most of the trade if you wanted to run a tighter stop).
Confirmed MVB sell signal in Swith & Wesson. Daily Strategist subscribers entered this position with us at 21.65 using Sep 22.5 puts. Initial stop set at 24.00. You can find out more about this indicator, as well as following us on trades like this one, by using the links in our signature below.
NASDAQ:SWBI NYSE:RGR Watch for the circled area for the rebound or continued downtrend. Gun makers SWBI and RGR with copy paste stock performance.
first ath break failed but succeeded next day.
SWBI is looking down in the short term. Marked a few spots that will be support we can expect to test. Will see how this plays out, but the MACD and the RSI are pointing down in the short term.
🔪 If you are a bear, the last thing you want is to be staring down the barrel of this Smith & Wesson chart especially after Warren Buffet's successor David Portnoy set his sites on it. SWBI has been on an absolute beast of a run since the bottom as demand for firearms increased during COVID. We have some clear support levels going into what should be a solid...