Possible Bearish Inside Day Candle Pattern Detected for Harley-Davidson (NYSE:HOG)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Harley-Davidson (NYSE:HOG) based on the price action in the company's shares. Today's price range of $48.59 and $50.66 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Harley-Davidson may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
Harley-Davidson, Inc. designs, manufactures, and sells motorcycles. The Company's products include heavyweight touring, custom, and performance motorcycles, as well as a line of motorcycle parts, accessories, and general merchandise. Harley-Davidson also provides motorcycle floor planning and parts and accessories financing to its North American and European dealers.
In the past 52 weeks, shares of Harley-Davidson have traded between a low of $36.36 and a high of $60.67 and are now at $49.04, which is 35% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.
There is potential upside of 11.0% for shares of Harley-Davidson based on a current price of $49.04 and an average consensus analyst price target of $54.42. The stock should find resistance at its 200-day moving average (MA) of $49.14, as well as support at its 50-day MA of $47.49.
SmarTrend is monitoring the recent change of momentum in Harley-Davidson. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Harley-Davidson in search of a potential trend change.
Keywords: bearish inside day candle Harley-Davidson