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Trading Roundup: BMW i3 Misleading Advert – Assessing the Share Price Impact

December 08, 2017 13:05


The Top Gear car review describes the i3 as "the most revolutionary mainstream electric car ever". How so? Passengers are seated in a carbon fibre body, with all the electrical components planted lower down. The entire body of the car has an overall length of less than four metres. It's quite a breakthrough!

The mega-city i3 definitely makes going green fun, but somehow the ad promoting the electric car – touting its ability to produce zero-emissions, was banned this week, due to it being misleading. The model also has a petrol-driven engine, so does that mean that the groundbreaking car is not clean?

Source: Top Gear

The ad was published as a Facebook post and prompted a strong reaction from environmentalists. However, the German car giant was quick to allay any concerns, highlighting that the systems of petrol or electricity-driven cars – or both for that matter – need to be discussed.

Standard cars are petrol-driven. 'Hybrids' use both the electric and the petrol engine, the latter taking over should the electric system run out of charge. The i3 electric car's petrol engine never drives the car, but is only used to maintain the charge on the electric drive.

Anyway, back to the original ad issue. The post said "(...) a clean car and helps to give back to the environment". The wording is in fact true, but some clearly failed to make a connection, as described above, claiming it to be incorrect.

But just how did this controversy affect BMW's stock (#BMW) position?

BMW Share CFD Price Impact

Source: BMW H4 chart, Admiral Markets MT4, Aug-Dec 2017

The BMW CFD price has been in steady decline. At this point, we can see a bearish SHS pattern looming at the top of the chart. A subsequent re-test of the POC zone 85.40-86.00 could see new sellers rejecting the price towards zones 83.20 and 81.50. A daily or 4h close below the weekly L5 – strong weekly support – should see the price progressing further down towards the monthly L5 -78.69. It looks like the stock is in a strong "selling on rallies" scenario.

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