Stock market today: S&P 500 in weekly loss as trade war fears intensifyy
Recent favorites, Ford (F), for the slower crowd, and Tesla (TSLA), for the momentum crowd got hit Tuesday as they both received downgrades. Both may be a buy sometime shortly, but there is motor vehicle company that is ripe for a trade now. How appropriate that in the middle of Summer it makes sense to look at Harley Davidson (HOG). From the chart below you can see the stock has moved higher off of the 200 day Simple Moving Average (SMA) and is now consolidating at the 50 day SMA in a bull flag.
A break higher has a Measured Move to the 60-61 area, near the previous top. Look for a break over the 56 as the trigger. But the Relative Strength Index (RSI) is turning lower; should it continue out of bullish territory and is followed by the Moving Average Convergence Divergence indicator (MACD) which is already starting to roll over, then a trip back to the bottom near 50 is in the cards. At that point it gets interesting. Upon breaking 50 it will trigger a Head and Shoulders Top with a price objective of at least 40.39. Look for it lower on a break under the 100 day SMA at about 53.80.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
Original post
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI