BMW3 trade ideas
BMW Showing Some ProwessI guess the UK is deluding itself that a Brexit will impact German car makers. BMW is proving otherwise. This aby looks set for a major lift off.
BMW Short - Recallwww.reuters.com
FRA:BMW BMW (BMWG.DE) on Friday recalled about 110,000 cars in Japan over potentially faulty air bag inflators made by Takata Corp (7312.T), as part of the auto industry's largest ever global recall.
BMW Double Bottom - Buy SignalBMW has formed a double bottom as shown on the weekly chart along with a decreasing volume which suggests a lack of selling pressure. We are now waiting for a confirmation signal from the RSI to break through its trendline before opening a position on this stock. We expect price to test the upper trendline of the triangle before breaking through should the UK decide to remain in the EU as UK is a huge importer of BMW cars. It was also reported a few days ago that BMW plan to accelerate plans to innovate driverless cars by partnering with technology companies and acquiring start up companies. On the long side, we expect this pair to head towards the €100 level. Alternatively, if the fundamentals send price down, we expect it to target the €50 level.
Rebound?Now it is just a possibility, it is countertrend, but it is just on the level of a support. Time will tell...
Posible buy option on breakout?on the large scale theres a funnel formation indicating a rise. since 2016 this pattern also looks to me like it could be a buy option until around 97.50 (786 on fibs) to do this it will firstly need to break the downward trend resistance line.
BMW symetrical trianglethere is forming symtrical trinagle after breakout above weekly resistance with lot of room for uptrend.
BMW: Nice looking long setupBMW AG has triggered a nice buy signal today, we could enter at market, with half risk size and look to add if we hit 81.61 to complete our position size.
Go long BMW @ market price (last: 82.21)
stop loss @ 80.36
Target #1 89.78, target #2 98.62.
I'd risk half on the first position, and expect to let this trade run for at least 2-3 weeks if not stopped out.
Good luck if taking it.
Cheers,
Ivan Labrie.
possible long opportunity on BMWshortterm uptrend since oct., 38.2 retracement, stop buy at 61.8 % upsidebroke (78,10), stop at pre low around 73.90, T1 at 86, T2 at 93
