HOG closes within prior day's range after lackluster session

Harley-Davidson (HOG) Technical Analysis Report for Jul 13, 2018

Highlights

HOG finds support at 100-day moving average
HOG finds buyers again around 42.70
HOG stuck within tight trading range
HOG falls to lowest close since July 6th
HOG closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 30% Bullish
Technical Forecast:

Overview

HOG ended the week 1.27% higher at 42.93 after losing $0.31 (-0.72%) today. Today's closing price of 42.93 marks the lowest close since July 6th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for HOG

Volatility

Friday's trading range was $0.42 (0.98%), that's far below last trading month's daily average range of $1.13. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 42.43 and 43.45 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to a key support level at 42.21. Prices are trading close to the key resistance level at 43.24. After having been unable to move lower than 42.79 in the previous session, Harley-Davidson found buyers again around the same price level today at 42.70. After trading as low as 42.70 during the day, the market found support at the 100-day moving average at 42.75.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying could speed up should prices move above the close-by swing high at 43.45 where further buy stops might get activated. Selling could accelerate should prices move below the nearby swing low at 42.43 where further sell stops might get triggered. As prices are trading close to July's low at 41.52, downside momentum could speed up should the stock mark new lows for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Harley-Davidson

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