Is Brunswick Ready to Speed Higher?
Speedboat maker Brunswick may not get a ton of attention. But it’s exactly the kind of leisure stock that’s zipped higher lately.
First, notice how the stock fought to get above the $90-93 area earlier this year. It broke that zone in early March, briefly probed above $100 and then pulled back.
Buyers defended the old resistance and turned it into new support in the last two weeks. The 50-day simple moving average (SMA) has also risen from below to provide support.
Third, notice now prices have more recently hugged the 8-day and 21-day exponential moving averages (EMAs) – only to close above both yesterday.
BC is also interesting fundamentally. Not only did earnings and revenue beat estimates last quarter. Demand was so strong that management announced factory expansions at three of its facilities in late January.
Given the strong backdrop, this may be the kind of smaller company that can appeal on many fronts. It has the cyclical and consumer angles. It has strong market share. It may even have takeover potential.
Earnings are due in late April. Is this BC's last pullback below triple digits?
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First, notice how the stock fought to get above the $90-93 area earlier this year. It broke that zone in early March, briefly probed above $100 and then pulled back.
Buyers defended the old resistance and turned it into new support in the last two weeks. The 50-day simple moving average (SMA) has also risen from below to provide support.
Third, notice now prices have more recently hugged the 8-day and 21-day exponential moving averages (EMAs) – only to close above both yesterday.
BC is also interesting fundamentally. Not only did earnings and revenue beat estimates last quarter. Demand was so strong that management announced factory expansions at three of its facilities in late January.
Given the strong backdrop, this may be the kind of smaller company that can appeal on many fronts. It has the cyclical and consumer angles. It has strong market share. It may even have takeover potential.
Earnings are due in late April. Is this BC's last pullback below triple digits?
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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