Chartz with Jartz - Since early August of 2021, Camping World Holdings, Inc (CWH) has been a victim of "The Dog Days of Summer". August has historically proven to be one of the lowest traded months as more investors are taking vacations and earnings volatility introduces itself as factor that could possibly limit trading. The Dow Jones Industrial Average has also experienced similar patterns resulting in speculation as to where the market may be heading as we move into the fall months. The Investment Management Team (IMT) currently incorporates CWH across multiple portfolios and have been keeping a close eye on the stocks price movements as volatility has increased.
Before the market opened on August 23rd, CWH announced they would be increasing their quarterly dividend from $0.25 a share to $0.50 a share. In the chart above, you can see the gapping pattern created on the chart which resulted in a 6.25% jump on the day. From a technical standpoint, the IMT saw the candlesticks fall down to the 200 Day Moving Average line (RED) and reverse with two positive days. This pattern alluded to the possibility that the line was support and the chart pattern might indicate a reversal. The news of the dividend increase was just the spark CWH needed to ignite their stocks flame to make an end of month push higher. For more updates on charts and holdings please tune in weekly to EWM's blog. - Jake Artz