BWA pushes through previous session high

BorgWarner (BWA) Technical Analysis Report for Sep 14, 2018

Highlights

BWA pushes through key resistance level
BWA pushes through 50-day moving average
BWA closes higher for the 3rd day in a row
BWA pushes through previous session high
BWA rises to highest close since August 29th

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

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 chart for BWA

Volatility

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.

Support/Resistance

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.

Trend

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.

Conclusion

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 Win Rate 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
More market conditions identified for TQ Pro members...
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Latest Report:

BWA breaks below previous session low

Sep 17, 2018
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