Trading idea for Bayerische Motoren Werke AG (XETRA)
Bayerische Motoren Werke AG (XETRA)
#BMW
The trend is upward. The stock is trading between the 365 EMA and the 135 EMA. A truncated downward wave pattern has concluded with a breakout of the trend channel. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates an oversold condition.
Trading idea:
Buy upon the formation of an upward wave pattern.
Stop Loss – 57.560.
Target levels – 59.200; 61.250.
