HOG breaks below 20-day moving average


Harley-Davidson (HOG) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
HOG breaks below 20-day moving average
HOG finds buyers at key support level
HOG finds support at 50-day moving average
HOG breaks below previous session low
HOG falls to lowest close since August 2nd
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

HOG ended the week -1.84% lower at 43.25 after losing $0.50 (-1.14%) today. Today's closing price of 43.25 marks the lowest close since August 2nd. Closing below Thursday's low at 43.28, the stock confirms its breakout through the previous session's low having traded $0.16 below it intraday.

Daily chart for HOG
Volatility

Friday's trading range was $0.47 (1.08%), that's below last trading month's daily average range of $1.11. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 43.12 during the day, the share bounced off the key support level at 43.23. The failure to close below the support could increase that levels importance as support going forward. After trading as low as 43.12 during the day, Harley-Davidson found support at the 50-day moving average at 43.14.

Trend

Though the market is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive. HOG broke below the 20-day moving average at 43.30 today for the first time since July 31st.

Order Flow

Buying could speed up should prices move above the close-by swing high at 43.95 where further buy stops might get triggered.

Conclusion

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

Market Conditions for Harley-Davidson
Condition Forecast Direction Win Avg Worst Best Events
Bullish Engulfing Candle TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

HOG pushes through key resistance level

Aug 17, 2018
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