Sandy Hook Have the Gun Manufacturer Bull Market Coming to an End?
Both RGR and SWHC are in the process of, or have, broken down from bearish patterns recently.
In the case of RGR, it sits atop support line (2) below which dates back to 2008 and has defined its bull market run to $60 recently from sub $5 all the way back then, all within the context of a giant ascending wedge pattern.
Also note what has historically happened to RGR when it hits line (1) resistance, as it recently did this year.
Will line (1) produce a similar 65% decline in the stock leading it to trade down to ~$20, or line (3), within 12-18 months?
Would this coincide with more saber rattling as far as gun control legislation is concerned?