BWA pushes through previous session high
BorgWarner (BWA) Technical Analysis Report for Sep 14, 2018
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.
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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for BorgWarner
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Close near low of period||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Bearish Break through SMA 20||TQ Pro Members Only|
|Bearish Break through SMA 50||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
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