Stock: Harley Davidson (HOG)
Long or Short: Short
Reason for Trade: There are a number of great short setups out there today, and HOG is by far the best one that I've seen so far. Multiple patterns breaking down all simultaneously, and despite the early rise in HOG this morning, this stock still faces tons of heavy resistance overhead and I doubt they will be able to break through it.
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Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida. More >>