$JSEBAW - Barloworld Ltd: Has The Stock Bottomed?
Barloworld released a pleasing voluntary trading update this morning for the first five months of the 2023 financial year.
There were double digit increases in Revenue, EBITDA, and operating profit.
Technically, the share has traded as forecasted previously, link below.
The real question now is whether or not the stock has bottomed at 7984.
The first wave of any degree of a new trend tends to have a deep retracement and any pullback will present good buying opportunities with the ever improving fundamentals.
A break below 7984 will invalidate that a bottom is in and should be used as a stop-loss.
There were double digit increases in Revenue, EBITDA, and operating profit.
Technically, the share has traded as forecasted previously, link below.
The real question now is whether or not the stock has bottomed at 7984.
The first wave of any degree of a new trend tends to have a deep retracement and any pullback will present good buying opportunities with the ever improving fundamentals.
A break below 7984 will invalidate that a bottom is in and should be used as a stop-loss.
