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Harley Davidson breaking above bullish falling wedge

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2017 hasn’t been an “easy ride” for Harley Davidson (HOG) as it has declined the majority of the year, while the broad market has power higher.

Below takes a look at HOG over the past 9-years and applies the Power of the Pattern to it-

CLICK ON CHART TO ENLARGE

The 25%+ decline this year in HOG took it down to test 8-year rising support and the bottom of a potential bullish falling wedge pattern at (1).

Since testing dual support at (1), a breakout of the bullish falling wedge is taking place at (2).

Full disclosure- Members bought HOG at is was testing this dual support at (1). This type of set up, a decline that tests long-term support in combo with a bullish falling wedge pattern, continues to provide good risk/reward potential.

 

Chart pattern analysis with brief commentary:   

There is a ton of news and opinions about markets and stocks that make the decision-making process more difficult than it needs to be.    

I believe the Power of the chart Pattern provides all you need to see what is taking place in an asset and determine the action to take.  

This approach has worked well for me and our clients and I encourage you to test it for yourself. 

 

Send an email if you would like to see sample research and take me up on a trial of our Premium or Weekly Research where I provide actionable alerts on breakouts and reversals in broad market indices, sectors, commodities, the miners and select individual stocks 

 

Email services@kimblechartingsolutions.com  

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Website: KIMBLECHARTINGSOLUTIONS.COM 

 

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