HOG breaks below 20-day moving average
Harley-Davidson Inc. (HOG) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (HOG as at Aug 10, 2018):
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.
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.
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.
Buying could speed up should prices move above the close-by swing high at 43.95 where further buy stops might get triggered.