Harley-Davidson is roaring ahead

29 july 2022 49
Maria_Yudina
Maria_Yudina

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2nd in the segment "US stocks"
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Almost a half-year of downtrend for Harley-Davidson's stock price may have come to an end. Three attempts to break the trend have failed, but the fourth one is supported by the Q2 report - yesterday before market hours Harley-Davidson reported EPS of $1.46, which is $0.34 above analysts' estimate of $1.12. Revenue for the quarter was $1.47 billion versus the consensus forecast of $1.25 billion. The company also reaffirmed its initial guidance for the full 2022.

The RSI has not yet entered overbought zone, which means there is still some space for further growth. We expect Harley-Davidson stock price to rise to the 61.8 Fibonacci level. Alternatively, a pullback towards the 38.2 Fibonacci level is possible, and then Harley-Davidson will continue its growth. 

Maria_Yudina
Maria_Yudina

Listed among the best MarketCheese authors
2nd in the segment "US stocks"
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