Football Season is Almost Here, and This Stock Needs It Badly

After a brilliant uptrend in the second half of 2017, Camping World Holdings, Inc. (CWH), which specializes in selling recreational vehicles, and RV parts/servicing, suffered a brutal bout of selling in February of this year which, unfortunately for bulls, has shown very little signs in the way of that selling slowing down. 

One logical theory is that higher gas prices have outweighed any growth prospects from the firm and the general quality of the business model and execution.

But when you consider how well consumer/retail stocks have largely performed, it is tough to feel too sorry for CWH the market has clearly been willing to allocate capital to consumer names even in the face of higher gas prices. 

Thus, with a new football season approaching, Camping World is quickly running out of excuses not to sustain some type of relief rally, the likes of which has been rather elusive this spring and summer. 

On the CWH weekly chart, below, $20 is clearly a major price level for the stock and has been since its October 2016 IPO. If bulls can keep holding this area, longs will at least have a well-defined stop-loss zone to trade against for a bounce setup into September. 

With college football season kicking off this weekend, RV usage will almost assuredly see a nice spike higher around the country. CWH had better not fumble this time, because bulls have their back against the wall, with the ball on their own one-yard line.