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BMW Daily Technical Analysis | 7 November 2017

2017-11-07 08:56 am | Resource: Technical Analysis Section | No Views : 333

BMW is trading in a bullish direction as it breached the secondary descending trend line at the beginning of November and also breached the resistance level of 89.34, which led to, converted to support.

BMW Daily Technical Analysis | 7 November 2017

It should be noted that the SMA and the SMA are slowly intersecting with each other, supporting the bullish trend.
The MACD is still positive and the histogram is still above zero, but it is not all right as a result of a negative technical deviation from the first order.
It is expected that, if the stock breached the level of 91.60 and may target the level of 92.42 on the other side in case, breaking the stock level of 89.34 may target the level of 84.90.
Support: 89.34- 84.90- 82.46
Resistance: 91.60- 92.42-96.51
Trend: Up


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