jgalas

BWA short H&S

Short
NYSE:BWA   BorgWarner Inc
BWA has formed either a three descending peaks or a complex H&S . Ill let you guys be the judge. The MACD , Stoch and ADX all look like lower prices are expected. If you scroll up to the weekly and monthly you can see that not only do the indicators also support a lower prices, their are also some larger possible H&S .

My price target is not that far below. It is $39.69. That is about 10%. The 19OCT18 $45 PUT for roughly $2.65 looks good.

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