Harley Davidson (HOG) is a leading motorcycle manufacturer that is coming under selling pressure after reporting earnings. The stock is declining lower by 6.62% to $40.90 a share this morning. Traders should note that Harley Davidson (HOG) stock is now trading sharply below its 50 and 100-day moving averages. This puts the stock in a weak technical position on the charts and often indicates lower prices ahead.
The next major support level for Harley Davidson (HOG) stock will be around the $35.00 area. This level is where the stock was defended in late March 2021 from a bearish consolidation pattern. Often when stocks retest key reversal levels they will often be defended by the institutional crowd. This level also is a major retrace area adding to the strength of the level. I’ll be watching Harley Davidson (HOG) stock for a long side trade around this major support area.
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