Harley Davidson (HOG) : Bearish Swing Trade

Harley Davidson (HOG) has a few indications that it is now in Bearish.

1. On Ichimoku Weekly Chart, we can see that it is now trading inside the kumo which represents a trendless state.

2. On the Daily Chart, we can see that Chikou Span has cut the price level and rebound off the support at 21.05

3. This is further support by the Tenkan sen cutting the Kijun sen dowwards ( a bearish sign)

4. The leading kumo is also starting to twist; an indication of a change in trend.

5. From the Chaikin Money Flow indicator, we can see that the accumulation is dropping. Will there be a distribution coming soon? Hard to say. But, with the indicator trending lower, the chance of the price level going much higher is limited.

6. Possible swing trade. Entry around 23.03 or 24.41. Look for candles pattern.

2009Oct-Harley Davidson Inc-800x600_Weekly

2009Oct-Harley Davidson Inc-800x600

By iam802

Trend trading with Ichimoku