BorgWarner Inc Stock Forecast
Stronger technical forecast for BorgWarner Inc stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The BorgWarner Inc stock price gained 0.756% on the last trading day (Tuesday, 23rd Apr 2024), rising from $33.09 to $33.34. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.24% from a day low at $32.93 to a day high of $33.34. The price has fallen in 6 of the last 10 days and is down by -6.37% for this period. Volume fell on the last day by -342 thousand shares and in total, 2 million shares were bought and sold for approximately $50.59 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.71% during the next 3 months and, with a 90% probability hold a price between $32.22 and $37.14 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BWA Signals & Forecast
The BorgWarner Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $32.68 and $33.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.65%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for BorgWarner Inc stock
BorgWarner Inc finds support from accumulated volume at $32.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.409 between high and low, or 1.24%. For the last week, the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: $31.93 (-4.23%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (BWA) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect BorgWarner Inc to open at $33.20, and during the day (based on 14 day Average True Range), to move between $32.57 and $34.11, which gives a possible trading interval of +/-$0.773 (+/-2.32%) up or down from last closing price. If BorgWarner Inc takes out the full calculated possible swing range there will be an estimated 4.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.65 (0.93%) than the support at $32.28 (3.18%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is BorgWarner Inc stock A Buy?
BorgWarner Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.989 Hold/Accumulate Upgraded
Predicted Opening Price for BorgWarner Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $33.20 ( 0.409%) | $33.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BWA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.61 | 0.82 % | |
| R2 | 33.46 | 0.350 % | ||
| R1 | 33.36 | 0.0598 % | ||
| Current price: | 33.34 | |||
| Support | S1 | 33.05 | -0.88 % | |
| S2 | 32.95 | -1.17 % | ||
| S3 | 32.79 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.74 | 4.20 % | |
| R2 | 34.70 | 4.08 % | ||
| R1 | 33.65 | 0.93 % | ||
| Current price | 33.34 | |||
| Support | S1 | 32.28 | -3.18% | |
| S2 | 32.04 | -3.90% | ||
| S3 | 31.48 | -5.58% |
BWA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 07, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.110 | 0.342% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.110 | 0.316% |
| 3 | Jun 26, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.110 | 0.268% |
| 4 | Apr 27, 2023 | May 31, 2023 | Jun 15, 2023 | $0.170 | 0.400% |
| 5 | Feb 09, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.170 | 0.421% |
FAQ
Click here for our free guide on how to buy BorgWarner Inc Stock.
