Barloworld has a 70% chance of moving to R107.85 - Read why

Cup and Handle formed on Barloworld after the Breakaway gap.
The price then moved sideways and the buyers showed stronger momentum than sellers.
Now with gaps there is a 70% chance of the gap closing which is good for when you're trading it using patterns.
7>21 but <200MA
Target R107.85

WARNING
The Moving Averages are still very close to each other which means we can even see sideways movement for an extended period.
But we have our levels and we are bullish for now.

ABOUT

Barloworld Limited is a South African multinational corporation founded in 1902, headquartered in Johannesburg, South Africa.

The company operates in several sectors including equipment, automotive, logistics, and corporate real estate.

Barloworld has operations in 32 countries, primarily in Africa and Europe, and employs over 17,000 people globally.

The company is a distributor of Caterpillar equipment and also provides related services such as financing, maintenance, and repair.

Barloworld's automotive division is the sole distributor of BMW and MINI vehicles in Southern Africa.

The company has a market capitalization of around ZAR 28 billion (as of February 2023).