It's Not The Destination, It's The Technicals, Harley-Davidson Inc

Over the past few days, Harley-Davidson Inc (NYSE:HOG) has been forming a bullish pattern in the daily chart. Traders should take advantage of this pattern set up, as it is an excellent risk/reward trade. This bullish pattern should start to play out as early as today. Let's take a close look at the pattern and detail the levels for you to manage the trade...

If you like to take Harley-Davidson Inc (NYSE:HOG) for a ride, you can enter the trade at current levels around the $64.43 area. From that entry point level, look for the stock to bounce higher; the first target and level at which traders can lock some gains is $65.85, at this point a break even stop should be in place and you can let the remaining portion of your position run. The secondary target for taking the remainder of your position off the table on HOG, will be $67.09. Should Harley-Davidson Inc (NYSE:HOG) run out of gas, and negate this bullish pattern, your stop loss for this trade will be any daily close below $63.69.

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Kiliam Lopez
Elite Round Table, Pro Trader
@KiliamLopez