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Barloworld

UPDATE: Barloworld M Formations! Not one but TWO for the down! In May 2023, I wrote to you saying I epxect Barloworld to drop. ANd if you had the patience and just invested in this short, would be paying nicely by now. Not only because the price is down but also with the time held you could have made some interest income from the short. Anyway, there is nothing more confirming than when you have a Bearish formation like the M Formation and then you have ANOTHER Double Top. ANd since the price broke below the neckline, it's been carnage for Barloworld. The target remains at R64.17. And if it breaks below, I'll write another trading analysis...
JSE:BAWShort
by Timonrosso
1
Barloworld just broke under the Double Top pattern - Target R64M Formation formed on the daily with Barloworld. The price broke below and this tells us the supply (selling) is stronger than the buying. We have other technical signals confirming the downside momentum. 200>21>7 - Bearish RSI <50 - Lower highs Target R64.17 SMC Above the second rounding top is a Buy Side Liquidity Order Block. This is where Smart Money came up swept buying from (long traders) and stops from Short traders. They sold into the buying, which caused a price drop. Hence, they are predominately short in the market.
JSE:BAWShort
by Timonrosso
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).
JSE:BAWLong
by Timonrosso