After putting in a divergent high & breaking down below the large bearish rising wedge pattern a few months ago, HOG (Harley-Davidson Inc) may have run the course of the correction that was priced into the charts at the time. I missed this one on as a short back then but I’m watching the stock for a potential long entry soon, should it hold above the 47ish support & confirm the potential bullish divergences that are forming in the indicators below.
HOG daily July 21st
On watch for a potential official trade idea, depending on how the chart develop in the coming days to weeks. Aggressive traders could opt to go long at or above the 47ish support level with a stop placed somewhat below although my expectation is that the stock may need to chop around between these support & resistance levels for a bit while pounding out a potential bottom.