The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 3/15/2024 -
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HarleyDavidson (HOG) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Lane's Stochastic is overboughtLane's Stochastic and MACD bearish divergence
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It was a second consecutive positive week for the HarleyDavidson (HOG). During the week, the HOG gained 2.53 points, or 6.58%, and closed at 41.00 on Friday, March 15, 2024. Weekly volume was 37% above average.

Long-term trend: [See HOG long-term trend chart]
A long-term downtrend had started on February 2, 2023 at 51.77 and reached 25.43 on October 26, 2023. HOG lost 26.34 points, or 50.88%, in 38 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (20.38) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. HOG may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See HOG medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 25.43 and reached 41.96 on March 15, 2024. HOG gained -16.53 points, or -65.00%, in 20 weeks. The price is now at the 5.81% retracement level.

Weekly Technical Indicators: [See HOG weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See HOG short-term trend chart]
A short-term uptrend had started on March 1, 2024 at 35.09 and reached 41.96 on March 15, 2024. HOG gained -6.87 points, or -19.58%, in 14 days. The price is now at the 13.97% retracement level.

Daily Technical Indicators: [See HOG daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence.

The daily MACD line is above its signal line since March 4, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.24
Williams' Percentage Range (W%R) 21.20
Lane's Stochastic (%D-Slow) 82.49
Overbought Bearish
Greed/Fear Indicator (GFI) 78.83
Moving Average Converg./Diverg. (MACD) 1.01 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.11
Williams' Percentage Range (W%R) 8.80
Strong Overbought
Lane's Stochastic (%D-Slow) 83.57
Overbought Bearish
Greed/Fear Indicator (GFI) 78.20
Moving Average Converg./Diverg. (MACD) 0.31 Bearish
Trading Signals
Description Value Chart
Daily Stochastic Crossing 41.37
Upper Bollinger Band 41.25
Price 41.00
Weekly Stochastic Crossing 40.25
20 Day Moving Average 38.09
Parabolic System 37.12
50 Day Moving Average 35.98
Lower Bollinger Band 35.25
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Motorcycle Manufacturers 111
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 35.09
Low Date 03/01/2024
High 41.96
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.36
Low Date 01/31/2024
High 41.96
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.43
Low Date 10/26/2023
High 41.96
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 24.98
Support 20.38
High 51.77
High Date 02/02/2023
Low 25.43
Low Date 10/26/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 52.06
High Date 05/18/2021
Low 25.43
Low Date 10/26/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.