BorgWarner Inc (BWA) provides solutions for combustion, hybrid & electric vehicles worldwide. The company operates through four segments, Air management, E-propulsion & drivetrain, Fuel injection & Aftermarket. It is based in Auburn Hills, Michigan. It comes under Consumer cyclical sector & trades as “BWA” ticker at NYSE.
BWA favored ended larger correction in weekly at $17.00 on 3/18/2020 against during global sell off in March-2020. While above there, it favored ended impulse I at $55.55 high on 6/03/2021. Below there, it favors correction in II & expect further downside before resume upside.
It placed ((1)) at $26.73 high on 3/31/2020 in the sequence started from 3/18/2020 low. While below there, it favored ended ((2)) at $21.15 low as 0.618 retracement against previous cycle. Thereafter, it started ((3)) higher & favored ended at $43.22 high on 9/15/2020 low. It placed ((4)) at $34.30 low as 0.382 retracement against previous cycle. It finally ended ((5)) at $55.55 high 6/03/2021 as I red impulse from the March-2020 low. While below there, it favors correction lower in proposed zigzag structure to end II before upside resume.
It favored ended ((A)) at $40.28 low & ((B)) at $50.09 high. While below there, it placed (1) & (2) at $45.70 high & favors more weakness in (3) lower, which will confirm below $41.49 low. It expect to extend lower towards $34.73 – $25.24 area to end ((C)) & so II correction before upside resume. We like to remain bullish from the blue box area for next leg higher or at least 3 swing bounce.
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