The German automaker comes back under pressure after last week's breather
BMW drops 2.7% and retests the double bottom in the 57 area
The German automaker comes back under pressure after last week's breather
Our view last week
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.
This week's summary
In this week's technical analysis on BMW the stock drops 2.7% and retests the double bottom in the 57 area, after last week's pause. Sellers dominate the tape with 79% of volume, while RSI slips to 27, close to oversold. Money flow stays in distribution territory, but the MACD histogram is narrowing: the decline is losing some steam while still in control. The open short on the stock is now above 23% in the money.
IQS Phase
80
in tension
Signal Strength
27
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#19 / 56
EU-UK stocks
Trade P&L %
+23.44%
from signal to today
Rank position
ranks 19th among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 27 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXHG
Sector regimeweak phase
Performanceweekly -2.23% · monthly -0.78%
BMW belongs to the european sector (reference ETF EXHG). The sector is classified weak phase according to our weekly reading.
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