country flagالعربية

BMW Daily Technical Analysis | 11 October 2017

2017-10-11 08:15 am | Resource: Technical Analysis Section | No Views : 344

BMW is trading in a bullish direction on the 240-minute time frame, and the simple moving average is still positively intersecting with the slow moving average indicating that it is also pointing to weakness in the current bullish trend.

BMW Daily Technical Analysis | 11 October 2017

In the previous report we pointed out that there is a harmonic trading pattern, which was negative. The model reached a point of 89.32 during the first week of October, and the German auto share started to decline to reach 86.75.
Currently we recommend the German shareholders to take profit and wait for a negative price behavior at 89.32 euros for sale and take advantage of the negative model
The Momentum index is a negative cross that supports our negative outlook on the stock.
It is expected that if the German stock failed to breach the 89.32 level, it targets 84.99 levels but if the shares of the 89.32 level move towards the 91 level.
Support: 86.75-84.99 - 81.06
Resistance: 89.32 - 91 - 92.28
Trend: Up

Other news

US stocks open higher on Friday as trade concerns eased

US stock markets began the last trading session of the week slightly higher after the media reported that Washington is ready to grant temporary tariff exemptions to 437 Chinese products. At the same time, another report claimed that the United States would not remove import tariffs on auto parts made in Japan as part of the expected trade agreement. In business news, Apple launched. The new iPhone 11 series worldwide.…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.