See link below for previous analysis.
Barloworld stock recently made a break below 7984 which was a critical level to maintain the bullish view.
A break below this level has prompted an update of the wave structure and I now identify the sideways movement from 2023.01 as a contracting triangle for wave ((iv)).
The stock is now in the fifth and final wave of the sell-off and a break above 8928 will be the first sign that a bottom is probably in.
Barloworld stock recently made a break below 7984 which was a critical level to maintain the bullish view.
A break below this level has prompted an update of the wave structure and I now identify the sideways movement from 2023.01 as a contracting triangle for wave ((iv)).
The stock is now in the fifth and final wave of the sell-off and a break above 8928 will be the first sign that a bottom is probably in.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.