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BMW JUMPS ON RECORD SALES - Capital Street FX

08-Jan
20:15 IST

BMW’s stock is currently trading at 73.35-higher by 1.71% as compared to the previous closing.

In recent news, the company disclosed earlier today that it achieved record sales of 2.49 million BMW, Mini, and Rolls-Royce vehicles last year. German carmaker’s CEO Harald Krueger said that the BMW Group is the world’s leading premium automotive company for the 15th year running.

On the technical front, the RSI is currently at 53.88% and suggests that the market can move in the upward direction. The current price is above the MA5 (71.23). The current price is above the middle line of the Bollinger Bands and is heading upwards.

Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit targets.

 

TRADE SUGGESTION-LIMIT BUY AT 73.20 TAKE PROFIT AT 73.70    STOP LOSS AT 73.00

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