Trading Idea - Harley-Davidson Broke Resistance, What to Expect?

Published on Tuesday, 17 January 2012 10:20 Written by Danny Miller

New York, January 17th (TradersHuddle.com) - Shares of Harley-Davidson, Inc. (NYSE:HOG) closed the trading session at $42.03 just above calculated resistance at $40.36 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Harley-Davidson, Inc. (NYSE:HOG) manufactures and sells motorcycles. Its products include heavyweight touring, custom, and performance motorcycles, as well as a line of motorcycle parts, accessories, and general merchandise.

Harley-Davidson's stock was trading in a well defined range with support at $36.06 and resistance at $40.36, given that this range was broken traders will be closely monitoring the stock