Harley-Davidson is just starting to take off in wave III.
The initial "wave I'' was witnesses in the stock through the period between late Oct-late Dec.
Wave II was a mere 38.2% retracement of the impulse(a sign of strength) and now the corrective pattern of the wave II seems to have completed all legs.
Wave III projected target zone comes to approx. $45-50.
With the kind of current risk-reward potential that the stock is offering at CMP, looks like a good pick in the up-trending Automobile sector.
The initial "wave I'' was witnesses in the stock through the period between late Oct-late Dec.
Wave II was a mere 38.2% retracement of the impulse(a sign of strength) and now the corrective pattern of the wave II seems to have completed all legs.
Wave III projected target zone comes to approx. $45-50.
With the kind of current risk-reward potential that the stock is offering at CMP, looks like a good pick in the up-trending Automobile sector.