$THO Closes Above Long Term Resistance
THO closed at $72.40 on 12/18/19, above its long term resistance level of about $71.16 for the first time in over a year. This move is significant as the price has also moved above its 50 day and 200 day moving averages. This move is on the back of dealership rationalization which management said should finish up by the end of 2019 and look to normalize sales to match consumer demand levels starting in 2020. Dealership inventory levels are at a multi-year low, matching levels we haven't seen since 2017 and setting up the stock for a significant out-performance of the broader US equity markets in 2020.
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