Wednesday, September 26, 2007

Bullish divergence for BMW - I missed this trade ..

During weekend I was searching some good pick for long term position. BMW was hot candidate. Price was dragged down by August sell off. Not even positive sentiment of last couple of days helped shares for reverse as weak USD lowered general expectation for BMW. Nevertheless strong bullish pattern (bullish divergence with RSI) has been created. You can see on technical chart. On Monday shortly after opening company announced that due to big demand factories are working on full capacities. Altogether shares has lifted more that 10% from 42 EUR to 46.7 EUR in 3 days !!!


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