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A Review of Harley-Davidson’s Key Technicals

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Harley-Davidson

Harley-Davidson’s (HOG) valuation multiples have risen in the last six months. However, weak first-quarter earnings could lower the company’s 2019 earnings estimates, which could drive its valuation multiples lower. Whereas valuation multiples can help investors make investment decisions, key technical levels are also important.

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Technicals to watch

As of yesterday, Harley-Davidson stock was trading at $40.07 and had risen 12.4% this month. In the coming weeks, the stock could face immediate resistance near $40.70, and a violation of this resistance could attract fresh buying. On the downside, no major support lies above $37.60.

Harley-Davidson’s 14-day RSI (relative strength index) score of 64.90 suggests minor strength in its momentum. The stock is hovering close to its 200-day moving average of $39.70, reflecting indecisiveness in its stock price trend.

The auto industry’s Q1 earnings season

The auto industry’s (XLY) first-quarter earnings season is set to begin with Harley-Davidson’s earnings release on April 23, followed by Tesla’s (TSLA), Ford Motor’s (F), and General Motors’ (GM) earnings reports on April 24, 25, and 30, respectively. Italian-American automaker Fiat Chrysler Automobiles (FCAU) is set to release its first-quarter results on May 3. To learn more about analysts’ estimates for automakers’ first-quarter earnings, visit Market Realist’s Automobiles page. 

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