• Return to Headlines

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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Harley-Davidson (NYSE:HOG) based on the price action in the company's shares. Today's price range of $52.02 and $52.47 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. Traders and investors interested in shares of Harley-Davidson may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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 $63.40 and are now at $52.46, which is 44% 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%.

Harley-Davidson has overhead space with shares priced $52.46, or 8.5% below the average consensus analyst price target of $57.31. 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.

SmarTrend recommended that its subscribers protect gains by selling shares of Harley-Davidson on April 18th, 2017 by issuing a Downtrend alert when the shares were trading at $57.43. Since that call, shares of Harley-Davidson have fallen 9.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle Harley-Davidson

Ticker(s): HOG