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Possible Bearish Inside Day Candle Pattern Detected for Harley-Davidson (NYSE:HOG)

By David Diaz

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. Yesterday's price range of $47.49 and $50.66 is within the prior day'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 (NYSE:HOG) has potential upside of 12.5% based on a current price of $48.37 and analysts' consensus price target of $54.42. The stock should hit resistance at its 200-day moving average (MA) of $49.14, as well as support at its 50-day MA of $47.49.

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.

Over the past year, Harley-Davidson has traded in a range of $36.36 to $60.67 and closed yesterday at $48.37, 33% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.

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 am inside day candle Harley-Davidson

Ticker(s): HOG