BMW NEXT LEG HIGHER COULD BE COMING SOON
Updated
I am having BMW on my watchlist for quite a while and i am reading alot of positive fundamental news about the company and their car-sales, for example they are expecting 2017 to be their 6th consecutive record year etc.. The chart technical picture is lining up more and more with the fundamental view. I am expecting the 5th wave higher to start pretty soon.
However, i will await Trumps speech tomorrow before considering to buy but its a stock to keep an eye on and maybe add to the portfolio if it fits your checklist.
I am currently looking at 2 options to play this:
1. Buy on dips between 84 and 81 with a stop at 78.50 or so.
2. Wait for the breakout of the golden falling trendline it will indicate a high probability of the end of the corrective phase and enter.
In either case i am targeting the magical 100 mark plus the Risk:Reward looks pretty good.
Trade wisely and with care.
Blessings to you all.
However, i will await Trumps speech tomorrow before considering to buy but its a stock to keep an eye on and maybe add to the portfolio if it fits your checklist.
I am currently looking at 2 options to play this:
1. Buy on dips between 84 and 81 with a stop at 78.50 or so.
2. Wait for the breakout of the golden falling trendline it will indicate a high probability of the end of the corrective phase and enter.
In either case i am targeting the magical 100 mark plus the Risk:Reward looks pretty good.
Trade wisely and with care.
Blessings to you all.
Trade active
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