2024/10/20
Daily 4XSetUps - BMW sporty and dynamic, for bears
“the downward trend is an accident - let's not kid ourselves!
this 4XSetUp hopes for a trend reversal by the end of 2024?”
The car manufacturer XETR:BMW calls many cars into the workshops in the important market of China because of problems with the coolant pump.
A total of almost 688,000 cars sold in the People's Republic are affected, including around half a million vehicles manufactured in the country, as the state market regulator SAMR (State Administration for Market Regulation) announced in Beijing on Friday. The cause of the problems is therefore a plug on the coolant pump. XETR:BMW is currently struggling with technical problems and cut its profit outlook in September due, among other things, to problems with a brake system supplied by XETR:CON . Many cars cannot currently be delivered and high costs for technical measures are impacting profits. In addition, due to the poor economic situation in the People's Republic, particularly in the real estate market, wealthy XETR:BMW customers have somewhat lost their desire to buy cars. In addition, German manufacturers are suffering from low-cost competition from domestic electric car manufacturers.
As a reminder: XETR:BMW sales fell by 13 percent to around 541,000 cars in the quarter just ended, as the company announced in Munich. The problems with brakes from supplier XETR:CON resulted in a delivery ban for 320,000 cars that had not yet been handed over to customers. Sales fell in all regions. In China, the decline was particularly significant at minus 30 percent to 148,000 cars. This means that XETR:BMW only sells a quarter of its cars there. In Europe, sales only fell by 1 percent to 219,000 vehicles. XETR:BMW cut its annual forecast in September and now expects a slight decline in sales and a significant decline in profits.
“Choose your habits well. Habit is probably the most powerful tool in your brain’s toolbox.”
Ray Dalio
I don't want to fool us - there are better bullish trading capabilities than XETR:BMW shares. But nevertheless, I still don't give up hope for a long-term successful turnaround movement! Only below EUR 66 - because then the technical picture also looks bleak. And I don't want to sell you false expectations - I don't want to write anything that I'm not convinced of myself.
81.84 EUR - (2024/08/02) - Last Bearish GAP Intraday Low
80.80 EUR - (2024/08/05) - Last Bearish GAP Intraday High
77.28 EUR - (2024/10/10) - Intraday High QR Release
75.10 EUR - (2024/10/10) - last price action
68.58 EUR - (2024/10/10) - Intraday Low QR Release
First, we XETR:BMW bulls have to face the selling pressure based on the last quarterly results. And that is the price action between 68.58 EUR & 77.28 EUR. Wait - and hope - that the price action will trade above again. And then aims for 80.80 EUR & 81.84 EUR - and also overcomes them. Because then we would have a great trend reversal formation. And that that over several weeks, even months. So wait and see - treat yourself to a coffee every day. And or also take a look at XETR:BMW shares. Because we could reach EUR 85 by the end of this year 2024! Why not, if the sentiment on wallstreet - especially about the automobil industry - should not crash? However, the world should look more promising in 2025 than it does today! But that is a thing of the future? So as already written: wait - and don't lose hope...
With best wishes
and with good intentions!
Aaron
“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in TVC:DXY every day so that we learn something new daily.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.