In this series, we’ve explored how Harley-Davidson’s (HOG) valuation multiples are trading higher than other motorcycle makers, including Honda (HMC). While valuation multiples are helpful, you should also look at key technical support and resistance levels.
You can use these technical levels to refine your entry or exit from Harley-Davidson stock. Now let’s look at some key support and resistance levels before HOG’s 4Q16 earnings release.
Key support and resistance levels
As of January 23, 2017, Harley-Davidson stock was trading at $59.26. It’s currently trading in an upward sloping trend on a positive note. Breach of an immediate resistance level near $60 could attract fresh buying of the stock toward a key resistance level near $62.10.
On the downside, an immediate support lies near $57.45. A breach below that support level could turn underlying sentiments to negative.
Note that an upward stock price movement could see resistance around resistance levels, and a downward price movement could hit roadblocks around support levels.
Auto industry’s 4Q16 earnings
The auto industry’s (IYK) 4Q16 earnings will begin with Fiat Chrysler (FCAU), which scheduled its earnings release for January 25, 2017. For a look at what analysts estimated for Fiat Chrysler’s 4Q16 earnings, read What Do Analysts Expect from Fiat Chrysler’s 4Q16 Earnings?
Ford (F), the second-largest US automaker, scheduled its 4Q16 earnings release for January 26, 2017. To learn more, you can read Ford’s 4Q16 Earnings Estimates: Is There Any Hope?
For more industry updates, be sure to visit Market Realist’s Autos page.