Are the German stocks showing some downside is coming in this market?

February 17th, 2013, 11:29 AM

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.

February 17th, 2013, 11:41 AM

HI @Tradecombo

Looks like this is not only the DAX but also other indices like the CAC and other european stocks.
For the DAX a pullback to 73xx or less is highly possible in the next weeks.
From there new high of >8K looks realistic.

So the BMW stock should make that same movement.

Good Trades
GFIs1

Are the German stocks showing some downside is coming in this market?

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Are the German stocks showing some downside is coming in this market?