Harley-Davidson is roaring ahead

29 July 2022 421
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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. 

This content is for informational purposes only and is not intended to be investing advice.

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