BAW back in play here with a daily close above the DEMA200 and WEMA200. On the lookout for a long pos when price closes above 10300 level. LT price trend is still up
cup and handle pattern is forming on Barloworld. The stock looking like it's working on the handle. As it hold the 50 day EMA. I was waiting for a close above R114. However I will now add to my position on the break above R110.80 with a stop loss just below the 50 day EMA/ Handle.
- JSEBAW has formed a nice cup/handle pattern and looks primed for the next leg up
T1 - R117.10 zone
T2 - R 125.50 zone
Below R103 negates the trade
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Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Toward the end of May, my long term (12-month) target for BAW was reached. Since then, the stock has retraced, overshooting the incline support however trading within the 50/61.8% Fibonacci Retracement. Note, the RSI is breaking up before the stock - that's constructive. In addition, we note a same-day reclaim of the 8/21 EMA.
Initial position at the current...
The lower panel is the Bandwidth of the Bollinger Bands - highlighting a volatility squeeze.
Also see the narrow Bollinger Bands.
A price action above 10000 supports a bullish trend.
Profit target: 11200
Stop-loss: 9900
Remains above its 200-day simple moving average.
Barloworld - Long Term Target Hit - R120. Flagged in April 2020 (sub-65). the RSI was a key indicator that a multi-month opportunity was upon us. In addition, my own perspective of the monthly chart supported the long. BANK BARLOWORLD!!!
JSE:BAW is showing downward momentum based on the stochastic, MACD and EMA's that have just crossed. However, it has been trending upwards since the 26th of March and I will wait for a convincing breakout through the upward trendline before considering a short. If this breaks, we could be looking at a move down towards at least the lows formed at the beginning of...
Barloworld formed a nice bullish flag pattern and we have seen the break out and retest of the channel. We anticipate a start of a bullish trend for a possible target of R128. We will be looking for a minor pullback to around R85 -R90 for a buy entry.
BAW looks ready to pop if it can break out of this consolidation box its been trading in.
*Huge Volume spike supports the breakout idea. (Nicolas Darvas)
* Am worried about the RSI and Stochastic that is very overbought, but this can also indicate momentum.
Potential targets are 8000 and 10000
Disclaimer: This is my personal view and opinion and should not be...
Again sideways trend within a long downward trend. Stochastics overbought. Sell at 6404, short stop loss at 6761 and targeting 5359. Low risk to reward.
