Harley Davidson (HOG) Goes Off Road

Tom Bowley
by Tom Bowley,
Chief Market Strategist, EarningsBeats.com

Volume is triple its normal daily volume and Harley Davidson (HOG) is down more than 7% today, but technical analysis flashed many warning signs on both the daily and weekly charts.  First, let's look at the daily chart where price and gap resistance and a negative divergence all suggested HOG reached a pivotal level and possibly a top:

Furthermore, the weekly chart shows a clear downtrend in play over the past couple years and that was just tested as well:

HOG simply appears to be out of gas.

Happy trading!

Tom

Tom Bowley
About The Author:

Tom is the Chief Market Strategist at EarningsBeats.com, a research and education platform for both financial professionals and individual investors. His comprehensive Daily Market Report provides insightful guidance to EB members every trading day. Learn More 

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