BMW: the sell-off pauses, ADX keeps climbing
BMW nearly flat (+0.7%): 57-area double bottom, ADX rising for a fifth week
BMW: the sell-off pauses, ADX keeps climbing
Our view last week
This week's read on BMW flips the script: after last week's 2.5% bounce, sellers came roaring back — the stock drops 4% with 95% of trading on the sell side. RSI falls to 27.8 and the ADX has risen for a fourth straight week, a sign the trend is gaining conviction. Price stays boxed between nearby support and resistance, with the short now more than 21% in the money.
This week's summary
In this week's technical analysis on BMW stock, the price closes nearly flat, +0.7%, after last week's 4% plunge: the aggressive selling stalled on the double bottom in the 57 area, with a 9% intermediate rebound. But the ADX keeps rising for a fifth straight week, a sign the trend is still gaining conviction, while money flow stays in distribution. The short is now more than 21% in the money.
IQS Phase
84
in tension / maturity
Signal Strength
22
decline losing steam
Sizing
MINIMUM
Ranking
#24 / 53
EU-UK stocks
Trade P&L %
+21.32%
from signal to today
restricted Platinum content