On Thursday 21 February, clients of Unum Capital were alerted – in real time – to an opportunity to trade the shares of Barloworld, with specific levels provided via the Telegram platform, as can be seen below:
In the short term, the trading range of R118 to R127 provides opportunities to play the long and short side, while a medium term view leans toward a bullish trend.
On Friday we saw the price make a low of R118.03 with a strong close of R125.71 in the form of a bullish engulfing candle, helping the share close above the sideways to downward trend line resistance as well as the 20-day and 50-day moving averages, both of which are starting to form a bullish trend. Should we see the price trade back below the R120 level, traders who previously missed the opportunity could look to once again accumulate the shares with a medium term view to ‘ride the bullish trend’.
Barloworld (Daily Chart)
Barloworld (Monthly Chart)
These are the trade levels:
Buy BAW below R120.00
Stop-loss: R113.00 (or 2% trailing)
Take Profit Target: R138
Last week we highlighted Coronation Fund Managers and Mediclinic International plc as opportunities – please chat to the trading desk if you are still interested in participating.
In addition, my screening process has identified Bidvest as a potential opportunity. If you require early access to the potential trading levels, please get in touch by e-mailing firstname.lastname@example.org or calling Tel: 011 384 2923.
Please chat to the Unum Capital Trading Desk to take advantage of any trading opportunities.
All the best,
Unum Trading Desk Analyst
Tel: 011 384 2923