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

By Nick Russo

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 $42.08 and $42.74 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.

Potential upside of 35.4% exists for Borgwarner Inc, based on a current level of $42.41 and analysts' average consensus price target of $57.44. The stock should find initial support at its 50-day moving average (MA) of $39.63 and further support at its 200-day MA of $38.93.

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.

Borgwarner Inc share prices have moved between a 52-week high of $46.60 and a 52-week low of $30.71 and closed yesterday at 38% above that low price at $42.41 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.

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