Germany: BMW shares stop bleeding – Analysis – 14-11-2018

BMW shares price succeeded to find positive factor to stop the negative bleeding by reaching historical support at 71.30, while the stability of this support will confirm the price preparation to form correctional bullish trades and expect rallying towards 76.60 level first, while surpassing this level will allow the price to record more positive targets by reaching 80.45.

Stochastic release from the oversold areas supports our bullish overview for the near term and medium term period, by providing new positive momentum that increases the chances of forming strong bullish attack and achieve the mentioned targets.

Expected trading range for today is between 72.00 and 76.60

Expected trend for today: Bullish