BMW.DE finds buyers again around 79.31


Bayerische Motoren Werke AG (BMW.DE) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
BMW.DE closes higher for the 2nd day in a row
BMW.DE finds buyers again around 79.31
BMW.DE closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 28% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, BMW.DE ended the week -0.72% lower at 79.62 after gaining €0.25 (0.31%) today on low volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.

Daily chart for BMW.DE
Volatility

Friday's trading range was €0.75 (0.94%), that's far below last trading month's daily average range of €1.55. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 79.07. After having been unable to move lower than 79.10 in the previous session, the market found buyers again around the same price level today at 79.31.

Trend

While the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying might speed up should prices move above the close-by swing high at 80.73 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 78.24 where further sell stops could get triggered. With prices trading close to this year's low at 76.50, downside momentum might speed up should the share break out to new lows for the year.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Bayerische Motoren Werke AG
ConditionForecastDirectionWinAvgWorstBestEvents
Black Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Strong Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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