UPDATE: Bell Equipment ready to ring to the first target R20.54We sent out a trade analysis on Bell Equipment. It formed a W Formation and I said the journey can be a long one as the main market remained sideways throughout the year.
Then in September after consolidation, we saw another breakout pattern showing more upside to come.
And since 11 October, the momentym has just been on the up. My first target remains at R20.54. Once it breaks up, we will most likely see it head to R30.00.
But I'll be here to let you know...
Jsebel
Bell Equipment ready to rocket to R20.54W Formation formed on the daily.
We have had a recent breakout and it's been a weird one.
Due to the illiquid nature of the share, the wicks are quite large.
So I've incorporated both wicks and bodies to the W Formation in this case.
Other signals point upside:
7>21>200
RSI>50
Target 1 will be to R20.54
ABOUT THE COMPANY
Bell Equipment is a South African company renowned for its design, manufacturing, and marketing of equipment used in construction, mining, and other industries.
Founding:
Bell Equipment was founded in 1954 by brothers Irvine, Malcolm, and Peter Bell.
Headquarters:
The company is headquartered in Richards Bay, South Africa.
Global presence:
Bell Equipment has a global footprint with strong distribution networks throughout Africa, Europe, the Americas, the Middle East, and the Asia-Pacific region.
Public Listing:
Bell Equipment is listed on the Johannesburg Stock Exchange (JSE).
Bell ADTs:
Bell is most notably known for its Articulated Dump Trucks (ADTs), recognized for their innovative design and reliable performance. They are a leading brand in this field worldwide.
Diversified products:
Besides ADTs, the company produces a wide range of machinery, including loaders, haulers, tractors, and backhoes, for applications in construction, mining, forestry, waste handling, and agriculture.
Bell Equipment's products are used worldwide:
The company's machinery is used in over 80 countries worldwide.