Trading idea for Bayerische Motoren Werke AG (XETRA)

Bayerische Motoren Werke AG (XETRA)

#BMW

The trend is downward. The stock is trading between the 365 EMA and the 135 EMA. The upward wave pattern is truncated. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator indicates an overbought condition.

Trading idea:

Sell upon the formation of a downward wave pattern, where wave (A) breaks through the trendline of the preceding truncated upward pattern.

Stop Loss – 58.440.

Target levels – 56.000; 53.740.