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Possible Bullish Inside Day Candle Pattern Detected for Borgwarner Inc (NYSE:BWA)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Borgwarner Inc (NYSE:BWA) based on the price action in the company's shares. Yesterday's price range of $34.37 and $34.68 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Borgwarner Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Borgwarner Inc (NYSE:BWA) has potential upside of 67.0% based on a current price of $34.40 and analysts' consensus price target of $57.44. Borgwarner Inc shares should first meet resistance at the 200-day moving average (MA) of $39.32 and find additional resistance at the 50-day MA of $41.86.

Over the past year, Borgwarner Inc has traded in a range of $30.71 to $46.60 and closed yesterday at $34.40, 12% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.3%.

BorgWarner, Inc. supplies engineered systems and components, primarily for automotive powertrain applications. The Company's products are manufactured and sold worldwide, primarily to original equipment manufacturers of passenger cars, sport utility vehicles, and light trucks. BorgWarner operates manufacturing facilities in North America, Europe, and Asia.

SmarTrend is tracking the current trend status for Borgwarner Inc and will alert subscribers who have BWA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle borgwarner inc

Ticker(s): BWA