BWA pushes through previous session high
BorgWarner Inc. (BWA) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, BWA finished the week 2.75% higher at 44.87 after gaining $0.54 (1.22%) today. Today's closing price of 44.87 marks the highest close since August 29th. Closing above Thursday's high at 44.65, the market confirms its breakout through the prior session's high having traded $0.51 above it intraday.
Daily Candlestick Chart (BWA as at Sep 14, 2018):
Friday's trading range was $0.83 (1.87%), that's slightly below last trading month's daily average range of $0.90. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
Breaking through the key resistance level at 44.63 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 45.25.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already. BorgWarner managed to break above the 50-day moving average at 44.82 today for the first time since August 27th.