Harley-Davidson near Key Support Area

Published on Friday, 20 August 2010 05:24 Written by Christopher Lynn

New York, August 20th (TradersHuddle.com) - Shares of Harley-Davidson, Inc. (NYSE:HOG) are trading very close to calculated support at $25.25 with current price action closing at just $25.41 places the stock price near levels where traders will start paying attention.

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 current stock range is defined by current calculated support defined at $25.25 and by the resistance level at $26.92, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Harley-Davidson's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $26.92 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.