BMW.DE dominated by bears dragging the market lower throughout the day


Bayerische Motoren Werke AG (BMW.DE) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
BMW.DE dominated by bears dragging the market lower throughout the day
BMW.DE ends the day on a bearish note closing near the low of the day
BMW.DE runs into sellers again around 91.59
BMW.DE closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

BMW.DE ended Monday at 90.66 losing €0.67 (-0.73%) on low volume. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for BMW.DE
Volatility

Monday's trading range was €1.14 (1.25%), that's below last trading month's daily average range of €1.61. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to a key support level at 89.81. After having been unable to move above 91.45 in the previous session, BMW ran into sellers again around the same price level today, failing to move higher than 91.59.

Trend

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Selling might accelerate should prices move below the close-by swing low at 88.96 where further sell stops could get triggered. Trading close to February's high at 93.45 we might see further upside momentum if potential buy stops at the level get activated.

Conclusion

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

Market Conditions for Bayerische Motoren Werke AG
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Doji Star TQ Pro Members Only
Northern Doji TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Doji TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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