Harley-Davidson, Inc. (HOG) Can't Hide When Its Chart Setup Can't Lie

Harley-Davidson, Inc. (HOG) has built up a compelling picture over the last few trading sessions and both traders and analysts are now starting to take a keen look at the stock. The big question is whether or not HOG can produce anything of note from its current position. Traders and analysts are paying particular attention to the recent movement of the stock. Volume and price movements are especially telling for the stock.

HOG’s recent performance has been quite telling. The last session saw more than 1.8M shares changing hands. This is higher than average volume of 2.22M. The lower volume was accompanied by an 0.89% increase in valuation after the stock opened at $ 51.80 before reaching a high of $ 52.60. The stock managed a low of $ 51.63 on the day and closed at $ 52.32, 0.52 above the open on the day. The volume performance was in line with the overall price performance on the day and the future of the stock by the most recent performance offers up some interesting set of opinions going down the road.

Indeed those opinions have already taken shape. So far analysts have weighed in on the stock and the consensus target estimate for HOG is $ 58.33. This target estimate is 11.49% higher the most recent close which suggests that the prospects, insofar as estimates are concerned, are bullish. Other data points that give some insights into the stock include the outstanding shares figure, currently 176.00M. The public float for the stock is 174.36M and current market cap is 9.21B.

More salient technical indicators are now starting to make their way into the trading conversation for HOG. An analysis of both Relative strength indicator (RSI) and Stochastic measures for the stock illustrates just what is happening underneath all the data. HOG 14-day RSI is 31.26%. This suggests that HOG is neutral, suggesting that the stock is relatively stable and may possibly stay where it is, moving neither up or down. Traders and analysts who value the signals sent by the RSI reading will definitely be taken note in the present example. The stochastic reading is also showcasing the deeper meaning underneath the current trading scenario for HOG. In the current case, the stochastic reading of 5.23% makes it clear that the stock is oversold at current levels. But those are not the only technical indicators that have something to say about HOG.

HOG certainly has a lot to say via its 50 and 200 SMAs. The picture here is also very compelling which isn’t at all surprising given the huge dependence by everybody on the power moving averages. HOG and the current state of both the 50 and 200 MAs appear to be signaling a sentiment best described as bullish. Like other technical metrics outline for the stock, the overall sentiment towards HOG appears to be positive.

Technically the stock is pretty clear in what it is saying. But it can say more so let’s now take a look at some other technical indicators. HOG’s -4.49 has offered up a rich set of data upon which traders can base their expectations and indeed, their actions. Based on the reading, an overall sentiment has emerged and this can be said to be negative. A big reason for this has been the historical performance of the stock. Taken over a much broader base of measurement, HOG has actually outperformed the S&P 500 by 0.02. This performance has created the perfect environment and now the stock has lower volatility levels compared to other companies in the same sector. To say that these readings and the inherent performance of the stock has placed it on the radar of many traders and analysts would indeed be an understatement. Interestingly enough, other factors are also playing their part in bolstering sentiments. This is especially so when you look at HOG’s 16.22%. HOG has an ATR reading of 1.86, suggesting much of what has already been established by the other technical factors. HOG by now has communicated enough upon which traders can base solid decisions either way. These technical factors should not be ignored.

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Craig Ballantyne

I love anything to do with Harley Davidson and have two beautiful children and a beautiful partner. In my spare time i like building websites and love anything to do with the internet.

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