After peaking in December of 2017, camping world holding stock, CWH, fell almost 85%, bottoming in September of this year signaled by positive momentum divergence. Since that time, the strong bounce off the bottom hit resistance at exactly a point we would expect as it failed to move higher many times in the past. In addition, momentum has moved from an oversold to overbought condition which needed to be unwound. The recent 14-day consolidation has allowed it to do just that. Notice volume in the bottom pane has shifted from institutional distribution (selling) to accumulation. When the boys with big wallets want a stock, so do I. Price is above the 200-day moving average after more than a year and half as well as being above a rising 50-day moving average. What makes this more compelling is the relative strength it showed yesterday. While the market was down ¾%, CWH printed an engulfing candle with huge volume, rising more than 3%. When the market is ready to go up again, this stock is one I want to own. Its easy to see why this is a very constructive chart that points to a lot more upside. Maybe not immediately, but in the weeks and months ahead.
Over time, I could easily see this stock being at least a 2 bagger (if not a triple) for those that have investment capital to risk and can stomach the volatility.