Motus broke above a Triple Bottom and is heading to R130.00

Triple Bottom has formed on Motus after the last few months.

And just recently, the price has broken above the neckline of the pattern,

This is bullish for an investor as there is extensive upside to come, by the looks of things.

7>21 bullish
Price<200MA
RSI>50

Target 1 will be to R130.00. It's quite optimistic, but you saw how quickly the stock fell in a short period. It needs to go back up and rebalance.


ABOUT THE COMPANY

Motus Holdings Limited is a South African company that operates in the automotive sector, dealing in vehicle retail, vehicle services, parts and accessories, car rental, and financial services.

Founding: Motus was established as a division of Imperial Holdings Limited in 1973.

Public Listing: The company was separately listed on the Johannesburg Stock Exchange (JSE) in November 2018 after a demerger from Imperial Holdings.

Global Presence: Motus operates in South Africa, the rest of Africa, the United Kingdom, Australia, and South East Asia.

Business Segments: The company operates through four main segments: Import and Distribution, Retail and Rental, Motor-Related Financial Services, and Aftermarket Parts.

Vehicle Brands: Motus represents a wide range of vehicle brands through its dealership network, including Hyundai, Kia, Renault, Mitsubishi, and many more.

Vehicle Types: The company deals in both new and pre-owned passenger vehicles, commercial vehicles, and heavy equipment.

Services: Motus also provides vehicle-related financial services and products, including vehicle finance, insurance, and warranty products.

Parts and Accessories: Through its Aftermarket Parts segment, Motus sells a wide range of vehicle parts and accessories.

Rental Services: Motus offers vehicle rental services through its car rental business, which operates under several brands including Europcar and Tempest.

Employees: As of 2021, Motus employs approximately 16,300 people across its various operations.