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Harley-Davidson (HOG) : Short signals on HOG

This is a recap of my short position on HOG.

Trade was initiated on Monday (June 8) based on last Friday’s chart (June 5)

1. Weekly Chart still shows the kumo is trending down.

2. On daily, price has fall back into the kumo on higher volume.

3. Confirming this includes other indicators
– Force Index changing to Bearish
– Stochastics cross and dip below 80%
– MacD line is showing a cross and is below 0
– MacD histogram has a count of 4green bars and 1 red bar

Attached is the chart as of last Friday.

2009jun-harley-davidson-inc-800x600

Next, we can take a chart ending June 9.

We can see that both Monday exhibits more selling with yesterday’s volume surging to almost 15million compared to an average of about 4.5million

The price also touch the bottom of the kumo and reverse. An indication that maybe the facts from the fundamentals side is not showing up yet.

2009jun9-harley-davidson-inc-800x600

Let’s see how far this ‘short’ will go.

By iam802

Trend trading with Ichimoku