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Forum - Wall Street Pit (BAYERISCHE MOTOREN WERKE AG - BMW)    Stock Due Diligence for All

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From: cube1984 (Rep: 3)Date: 02/16/2013 08:21
Forum: Wall Street Pit - Msg #2351711 - List BMW msgs Thread #673502708 (Rec: 0)
Are the German stocks showing some downside is coming in this market?

This morning I was scanning the charts and have a look at some plays for the coming week. I am looking to take some short positions on some stocks the coming week and I love how already the dax is starting to pullback on the daily chart.

I was scanning and my eye fel on the €BMW chart, this stock is trading on the German DAX and it is starting to make a nice insp bear flag below the 20 and 50 moving average. I am looking to take a short position at the close on Monday. If the stock is already pulling back on Monday this will be off the table.

I am looking for an entry at €71.60 level my stop on this play will be the confirmation above the 20 moving average. My first goal will be €67.55 and my 2nd goal will be €63.50.

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