Harley's Bikes May Look Hot, but the Company's Stock Chart Is Getting Cold
The rally in stock of Harley-Davidson may be stalling out, according to the charts.
The revved up Harley-Davidson (HOG) - Get Report rally may be near an end, according to technical analysis. TheStreet's Robert Moreno writes that Harley's stock has formed a classic topping pattern on the daily chart. He says the declining price action over the past two months has formed a head and shoulders pattern that projects a downside price objective that targets the $52 area.
Moreno also notes there was a jump in overall volume in the last trading session, and the money flow indicators suggest it was mainly toward the sell side.
