GT247.com Trading Blog

Barloworld [JSE:BAW] trade note - Hits take profit

Written by Martin Harris | 21 Sep 2017

Source: Bloomberg

UPDATE on Barloworld (BAW) 21/09/2017 - Hits Take Profit. 

Bang! Take profit reached on Barloworld, paying out a modest 460 points.  Traders who may have missed the earlier entry could still try ride out the trade to the R130.00 marker. 

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Initial "Technical Take" published 18th September 2017. 

Price action for JSE:BAW is looking constructive, the price broke through resistance at R123.50.  We are now presented with a possible buying opportunity, with support at the R122 – 123 area. 

The price of the stock is driven by the commodity cycle, with caterpillar equipment being a large component of the business. 

I see a take profit level between R128 – R130, with the stop loss below the support region.

Here is the Trade Summary...

TRADE SUMMARY

Entry (BUY): R124.00

Stop Loss: R119.80

Take Profit: R128.60  

 
 

 

Martin Harris 

Twitter: @martin_xvi

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