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BMW Daily Technical Analysis | 10 January 2018

2018-01-10 11:23 am | Resource: Technical Analysis Section | No Views : 305

In the past week, BMW has breached the secondary downtrend line on the daily interval as a result of bull pressure on the German stock after it managed to bounce back from 85.52 Euros.

BMW Daily Technical Analysis | 10 January 2018

The stock is trading in a bullish direction and the simple and slow moving averages are positively cross and the cross has been confirmed to breach the 88.21 levels.
The MACD has a positive cross and the histogram is rising to indicate bull pressure on the European stock.
It is expected that, as long as BMW is trading above the 88.24 area it may target 95.99 levels, while in the case of 85.52 it might target areas of 78.80.
Support: 85.52 - 82.27 - 77.11
Resistance: 90.65- 93.75-95.34
Trend: Up


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