Technical analysis update: BMW (10th May 2021)

BMW has retraced back to its medium term moving average on weekly timeframe. On daily timeframe MACD remains bearish but RSI shows signs of reversing to the upside. We would like to upgrade our medium term price target for BMW to 90 euros per share.

Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.

Comment:

BMW continues its sideways price action. We expect this to be temporary. Our medium term price target remains 90 euros per share.

Comment:

We are nearing 90 Euros per share. Our price target remains unchanged.

Trade closed: target reached:

Price target of 90 euros has been reached.