Camping World Holdings Inc

CWH remains in a Stage 4 decline with lower highs and lows and downward-sloping EMAs acting as resistance. The medium-term bias is bearish, reflecting persistent selling pressure and failure at the EMA cluster. Short-term timing is neutral amid a sideways consolidation at oversold levels. Execution is best deferred—Trim into rallies at the 9/21 EMA zone. A sustained acceptance above the EMA cluster would invalidate the bearish bias.

• ↑$200M cash balance, net debt leverage cut from 8.1x to 5.6x
• ↑SG&A expenses down $29M YoY (7.5%), supporting $275M–$325M 2026 EBITDA
• ↓Q1 revenue $1.35B down YoY; adjusted EBITDA $28M vs $31.2M last year