Barloworld Limited Stock Forecast
Barloworld Limited stock upgraded to Strong Buy Candidate.
(Updated on May 16, 2024)
The Barloworld Limited stock price gained 0.179% on the last trading day (Thursday, 16th May 2024), rising from $8,950.00 to $8,966.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.21% from a day low at $8,807.00 to a day high of $9,090.00. The price has risen in 7 of the last 10 days and is up by 4.17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 544 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $14.11 billion.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 42.09% during the next 3 months and, with a 90% probability hold a price between $11,255.42 and $14,176.44 at the end of this 3-month period.
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BAW.JO Signals & Forecast
The Barloworld Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8,859.29 and $7,884.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 50.23%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Barloworld Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $7,954.00 and $7,200.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Barloworld Limited finds support just below today's level at $7,954.00. If this is broken, then the next support from accumulated volume will be at $7,200.00 and $6,800.00.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $283.00 (3.21%) between high and low. For the last week, the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: $8,639.64 (-3.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (BAW.JO) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Barloworld Limited to open at $8,954.33, and during the day (based on 14 day Average True Range), to move between $8,752.90 and $9,179.10, which gives a possible trading interval of +/-$213.10 (+/-2.38%) up or down from last closing price. If Barloworld Limited takes out the full calculated possible swing range there will be an estimated 4.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $7,954.00, some $1,012.00 (11.29%) from the current price of $8,966.00, our system finds the risk reward attractive.
Is Barloworld Limited stock A Buy?
Barloworld Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.067 Strong Buy Candidate Upgraded
Predicted Opening Price for Barloworld Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $8,954.33 ( 0.130%) | $8,966.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAW.JO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9,237.33 | 3.03 % | |
| R2 | 9,129.23 | 1.82 % | ||
| R1 | 9,062.44 | 1.08 % | ||
| Current price: | 8,966.00 | |||
| Support | S1 | 8,846.23 | -1.34 % | |
| S2 | 8,779.44 | -2.08 % | ||
| S3 | 8,671.33 | -3.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 8,966.00 | |||
| Support | S1 | 7,954.00 | -11.29% | |
| S2 | 7,200.00 | -19.70% | ||
| S3 | 6,800.00 | -24.16% |
BAW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 03, 2024 | Jan 03, 2024 | Jan 03, 2024 | $0 | 0% |
| 2 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | $200.00 | 2.31% |
| 3 | Jan 04, 2023 | Jan 04, 2023 | Jan 04, 2023 | $550.00 | 6.65% |
| 4 | Jun 22, 2022 | Jun 22, 2022 | Jun 22, 2022 | $165.00 | 1.80% |
| 5 | Jan 05, 2022 | Jan 05, 2022 | Jan 05, 2022 | $1,150.00 | 8.26% |
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