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BMW Daily Technical Analysis | 6 December 2017

2017-12-06 07:58 am | Resource: Technical Analysis Section | No Views : 301

BMW shares are trading in a downtrend on the 240-minute interval, and German shares are trading at 84.90 and rebound from 82.58.

BMW Daily Technical Analysis | 6 December 2017

The negative cross between the slow moving SMA and the SMA is not yet confirmed.
The MACD is positively cross and the histogram rises above zero, however, its signal is insignificant as long as the stock does not break the 85.94 Euro level.
It is expected that if German shares are broken at 82.85 and may target 80.50 Euros on the other hand, if the stock breaks to 85.94, bull status will improve and gain the ability to push the stock to a higher level, targeting 89.34.
Support: 82.85 - 80.50 - 79.09
Resistance: 89.34-91.06-92.42
Trend: Down


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