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BMW Daily Technical Analysis | 18 October 2017

2017-10-18 08:54 am | Resource: Technical Analysis Section | No Views : 355

BMW broke the bullish trend line on the 4 hour interval with a price gap down and currently the stock is retesting the broken bullish trend line, and the SMA is breached negatively with the slow moving average, which added to the strength is the intersection of the two averages with the trend line down.
Momentum Machd crosses negatively and started to drop from top to bottom but the decline of the Histogram columns is causing some concern for the sellers and the rebound at 86.75 raises doubts about the weakness of the buyers.

BMW Daily Technical Analysis | 18 October 2017
 
It is expected that if German shares are trading at a high of 86.75, it targets 92.27, but if the stock breaks 86.75, it might target 84.99.
Support: 86.75- 84.99 - 82.39
Resistance: 89.32 - 91 - 92.28
Trend: Down


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