$JSEBAW - Barloworld Ltd: Fundamentals & Technicals Align
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 as an extended five wave impulse, wave B as an expanding flat and wave C I am forecasting will be a smaller five wave impulse and looks almost complete.
I am thus looking for one more move to the downside before re-evaluating the wave structure.
The group will release a further voluntary pre-close update closer to the six-months ending 31 March 2023.
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 as an extended five wave impulse, wave B as an expanding flat and wave C I am forecasting will be a smaller five wave impulse and looks almost complete.
I am thus looking for one more move to the downside before re-evaluating the wave structure.
The group will release a further voluntary pre-close update closer to the six-months ending 31 March 2023.
