country flagالعربية

BMW Daily Technical Analysis | 30 October 2017

2017-10-30 10:30 am | Resource: Technical Analysis Section | No Views : 322

BMW has breached the secondary downtrend line during last week's trading as a result of weak sellers in the German stock. The stock is currently trading in a bullish trend in formation, and the SMA and Slowness are approaching each other, which means that there is a possibility of a bullish reversal.

BMW Daily Technical Analysis | 30 October 2017

After that, the stock rebounded from the 84.99 level that broke through 86.75 and is still trading.
The MACD is positively cross and the histogram stands higher above zero suggesting that buyers are becoming more bullish.
It is expected that if the stock breaks the 88.60 level and may target the 91 level on the other side in case, the breach of the stock to 148.90 might target the level of 150.87.
Support: 86.75 - 84.99 - 82.93
Resistance: 88.60-91-94.5
Trend: Up

Other news

US stocks in wall street rages in the red before the Fed decision

US stocks fell at the beginning of the session on Wednesday as market participants await the latest monetary policy decision from the Federal Reserve. The decision is scheduled to be released at 2:00 pm ET, while Federal Reserve Chairman Jerome Powell is expected to hold a press conference. US housing starts jumping 12.3% in August The number of homes in the US rose 12.3% to a seasonally adjusted annual rate…

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.