Harley-Davidson near Support

Published on Wednesday, 27 June 2012 07:44 Written by TradersHuddle Wire

New York, June 27th (TradersHuddle.com) - Shares of Harley-Davidson, Inc. (NYSE:HOG) are trading very close to calculated support at $45.16 with price action closing at just $46.18 and placing the stock near levels where traders will start paying attention.

Harley-Davidson's stock range is defined by its calculated support defined at $45.16 and by the resistance level at $50.89, which should be used by traders planning their trades. These support and resistance levels are based on a peaks and troughs algorithm of the stock's price action.

Traders wanting to establish a position should pay close attention to Harley-Davidson's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $50.89 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

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.