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BMW Daily Technical Analysis | 5 October 2017

2017-10-05 10:40 am | Resource: Technical Analysis Section | No Views : 332

BMW is still trading in a bullish direction over the daily interval, and the 10-hour SMA is positively cross with the 20 SMA and the two are trading in a bullish direction.

BMW Daily Technical Analysis | 5 October 2017

We noted in a previous report that there is a SIFR model. The stock has achieved a point where the pattern has been completed and during our analysis of the stock we found another harmonic trading pattern that participated negatively on the interval on its daily basis as follows:
X = 91.06
A = 80.50
B = 84.88
Q = 77.07 Correction 1.3 (less than 1.41)
D = 92.27 correction 1.13
The index of the momentum of the MACD positively intersected secondly as a result of the pressure of buyers on German car shares.
It is expected that, as long as BMW is trading above 85.3, it targets 92.27 levels but if the stock is broken 88.37 might target 85.03.
Support: 85.03 - 83.44 - 76.8
Resistance: 91-92.28-93
Trend: Up


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