Barloworld released a pleasing voluntary update for the four months to 31 January 2023 today. Again, I urge you to read it for yourself. Technically, I see clear Elliott Wave patterns in BAW price action. The uptrend from 5141 to 15499 unfolded as an impulse labelled wave 1 to 5. The bear correction is unfolding as a zigzag labelled wave A to C. Wave A unfolded...
BAW has pulled back to an area of interest. Support around the R86 level will likely form a cup/handle pattern which would be positive for a possible breakout above R93.00 level Failure at R86 opens the leg to swing low of R81.70
Level of support is very clear here. Stock trying to close back above the 200dma which would be a good start. Should market remains strong could see it move to short term targets of R92 - R93 and R103. With its exposure to the commodity space and precious metals/copper moving up.. should be a bit of a catalyst for Barloworld to start moving higher again.
The stock reached target at R110 and was consequently got downgraded yesterday by an investment house with a target of R96. The 20/200 moving averages provided a relief bounce on yesterday's sell off... I will be interested to get back in long around the retest of the consolidation breakout around R98.50 Oscillators are overbought on the daily
Barloworld has beautifully broken above the W Formation Showing a ton of upside to come. The 7 >21 MA bullish. The price is above the 200MA CONCERNS: The 200 is still above the 7 and 21 MA but I guess with a change in trend, we will see this no longer soon. BULLISH
Price has launched off its base as posted in the previous post and is fast approaching next level of interest, the 200dma. Ideally i would like to see a push through here to tag the R110 else bulls may need to recharge.
Barloworld continues to look good with volume pick up and holding the 50 day moving average A break of R98 will open the gates to a move towards R110 & 200 day moving average -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice. If you would like me to have a look at any chart, direct message and i will post...
Given the unfolding price action at the moment, i think Barloworld has found support at 9000. Should things turn out otherwise, the next support is at 6000.
- After printing a death cross (50dma x 200dma), price took another dive yesterday post earnings and now looking to test the March swing low. - Lots of overhead resistance if the bulls want to turn this around. -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
A bullish trend direction is applicable above 10600. Crossing below this level will negate the bullish trend direction. Upside price momentum supports the bullish trend direction. RSI leaves enough room for further upside price potential. MACD bullish crossover confirmed a change in trend direction.
Sanctions aint going to help their Caterpillar sales in Russia! Broken technical support with all momentum indicators pointing lower- Short to R100 or buy "PEACE"...
A price action below 14700 supports a bearish trend direction. Downside price momentum supports the bearish trend. Trend strength indicates a strong trend that is gaining strength. RSI leaves enough room for further downside price potential. 200-day might act as major support.
A bullish trend is applicable above 12800. RSI leaves enough room for upside price potential. The price action is starting the break up from the lower range of the Bollinger Bands. Trend strength indicates a strong trend that is gaining strength. Remains above its 200-day simple moving average. Fading downside price momentum (see the lower panel) supports the...
BAW - Not triggering as yet. In fact, acting quite the opposite of what I expected. No Trigger = No Trade. Original idea attached.
One of the items published to the client platform this morning. For more real time insights and trade ideas, or if you are considering an alternative trading service provider, get in touch today. Long Pivot: Barloworld -Getting Ready If Level Is Triggered. Levels On Chart. Instructions Below: Key Trading Levels For Buy/Long Side Continuation The highlighted...
We a nice ascending triangle pattern. The stock has been trending upward for a while now also Volume starting to pick up
Upside price momentum supports the bullish trend. Crossed above its 200-day simple moving average. RSI leaves enough room for further upside price potential. Price action above 9300 supports a bullish trend direction. ADX (trend strength) indicates a strong trend gaining strength.