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

By James Quinn

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 $49.13 and $50.27 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 (NYSE:HOG) has potential upside of 8.3% based on a current price of $50.24 and analysts' consensus price target of $54.42. The stock should find initial support at its 200-day moving average (MA) of $49.14 and further support at its 50-day MA of $47.49.

Harley-Davidson share prices have moved between a 52-week high of $60.67 and a 52-week low of $36.36 and are now trading 38% above that low price at $50.24 per share. The 200-day and 50-day moving averages have moved 0.34% lower and 0.85% higher over the past week, respectively.

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.

SmarTrend is tracking the current trend status for Harley-Davidson and will alert subscribers who have HOG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle Harley-Davidson

Ticker(s): HOG