BMW - Daily

BMW's stock price is approaching the high of €104.82 from November 2015. A move above this level could really see a stretch higher.

Analysing the BMW stock as it's been riding the wave since the back end of last year. With the carmaker reporting earnings tomorrow, it is an opportunity for investors to consider their future/potential investments. At present, its stock is trading at around €101.01 a share. There is great support below, with the first level at €98.94 followed by €98.27. A move below €98.27 could see the price fall back towards the support base at €92.40. Only a break below €92.40 could see the price decline further. On the other hand, as the bias remains bullish, resistance is located at €103.64 (white oval) then a level at €104.48 (orange oval). A rise and close above €104.48 may see the price climb higher towards €104.82, which is the high from November 2015. A break above the 2015 point could see a stretch as high as €110. Looking at the indicators, MACD is negative and RSI is neutral as it reads 51. BMW is expected to report earnings of €4.14 on revenue of €35.38bn.