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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Borgwarner Inc (NYSE:BWA) based on the price action in the company's shares. Yesterday's price range of $36.49 and $37.08 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. Owners of Borgwarner Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

BorgWarner Inc. provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.

Over the past year, Borgwarner Inc has traded in a range of $30.71 to $44.78 and closed yesterday at $37.07, 21% above that low. The 200-day and 50-day moving averages have moved 0.09% higher and 0.01% lower over the past week, respectively.

Borgwarner Inc (NYSE:BWA) has potential upside of 54.9% based on a current price of $37.07 and analysts' consensus price target of $57.44. The stock should find resistance at its 200-day moving average (MA) of $38.49, as well as support at its 50-day MA of $34.87.

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: bearish am inside day candle borgwarner inc

Ticker(s): BWA