It appears that the decelerating economy has claimed another casualty, Harley-Davidson . This morning, the motorcycle manufacturer warned that the slowing economy will cut into profit and prompt a scaling back of shipments. HOG now expects earnings to fall between $3.69 to $3.77 per share, a far cry from the consensus estimate for earnings of $4.12 per share. The company also reduced its third-quarter shipments to a range of 86,000 to 88,000 units from 91,000 to 95,000 earlier.

This news prompted a drop greater than 8.5% for the stock, placing it well below the 50 level. This move is important, as this round-number level may now reverse roles and act as resistance. The fact that 50 acted as support in the past is also important, as prior support often switches roles and acts as resistance when given the chance.