• Return to Headlines

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

By James Quinn

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. Yesterday's price range of $15.34 and $16.00 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. 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.

There is potential upside of 191.6% for shares of Harley-Davidson based on a current price of $16.73 and an average consensus analyst price target of $48.79. Harley-Davidson shares should first meet resistance at the 50-day moving average (MA) of $27.73 and find additional resistance at the 200-day MA of $33.75.

Harley-Davidson share prices have moved between a 52-week high of $41.40 and a 52-week low of $14.31 and closed yesterday at 17% above that low price at $16.73 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 6.2% while the 200-day MA has slid 1.3%.

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 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: bullish am inside day candle Harley-Davidson

Ticker(s): HOG