BAT has been rising in an ascending channel for over 3months now. Should this trend continue then BAT represents a Buy opportunity.
Alternatively the swing in the channel is circa 16%, so there is room for short term trades, buying at the bottom of the channel and selling at the top. Remember the trend is your friend until the end of the trend and always place stop limits.
Only my opinion and does not represent financial advice, do your own research.
Alternatively the swing in the channel is circa 16%, so there is room for short term trades, buying at the bottom of the channel and selling at the top. Remember the trend is your friend until the end of the trend and always place stop limits.
Only my opinion and does not represent financial advice, do your own research.
Note
Price has dropped circa 6.6% since the initial post and circa 16% from the local high. The price may well work it's way even lower toward the support trendline however, now wouldn't be a bad time to lock in at least some profit.Note
Sorry, I should say that locking in profit refers to a short from the price in the initial post when it was near the top resistance trendline.
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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.