Awesome W Formation was made on British American Tobacco. Price broke above the neckline and above the 20 and 200MA. Looks great for upside all the way to R623.86 as the first target. Now the JSE ALSI needs to follow suit for the momentum to continue.
Key Takeaway British American Tobacco writes down $31.5 billion as it shifts its business away from cigarettes. Shares of British American Tobacco tumbled Wednesday after the owner of Camel and American Spirit cigarettes took an impairment charge of about $31.5 billion, mainly related to its struggling U.S. cigarette brands with the number of people who smoke in...
A short position has been triggered on VELOCITY:XJSE_BTI_CFD The order was placed based on the crossing of the EMAs as well as the turning down of the stochastic and the MACD We are looking at a target at the 563 level which it last traded at in December 2021
NYSE:BTI is showing signs of weakness, maybe it's that sky capture thing. The stock might test R600, unless there are buyers to push the price up.
A bullish Harami pattern has formed on a string support level on JSE:BTI . Looking for a move up to the R780 level.
A long position has been triggered on JSE:BTI based off of the turning of the MACD and the stochastic as well as the crossing of the 2 EMAs.
With today's price action we have been triggered short on JSE:BTI . If this momentum continues and it breaks through the 665 level, we could see it reaching our target at around the 600 level.
JSE:BTI setting for a long opportunity, note resistance on a higher time frame. NYSE:BTI has been playing around this level for a while now, close above R714 trigger a long position. However, a clear bullish setup is above R730, where it'll have cleared the R720-ish resistance level that's on the weekly time frame. R714 is like a low cheat entry, in...
The Stochastic, MACD and the 3 and 15EMA's have all crossed downwards on JSE:BTI which are all good indications of a possible short position. If it breaks lower than the opening of this morning, I will enter short.
JSE:BTI has had a great run. Currently at a resistance level, and trading lower for the week. Red close for the week might open a window for a short trade targeting the recent breakout level, R590-ish region.
JSE:BTI is trading in a parallel channel and has recently bounced off the bottom on its way up. It is also showing some nice upward momentum. I would say that we are looking at an upward move towards at least the 55000 level if not further up towards the top of the channel.
Due for possible breakout to 40USD
$35 seems to be a strong support level for British American Tobacco, will be looking to sell some puts or go into a long position if it falls to $35 and below. Also earnings at approximately $4 per share will provide great support as it will be trading at p/e of 8.75 which is extremely cheap for a global consumer defensive business growing at 2-3% EPS....
JSE:BTI is struggling to break through a strong resistance level and has formed a triple top pattern. We could possible see a downward move from here.
Thanks for viewing, Sorry guys, I'm still forming an opinion on this one. There is a nice multi-year base in place. Multiple coincident zones just below the base, but the wave count is a bit hard to work out. I'm just doing this to keep an eye on it.
BTI formed a reversal pin bar on the weekly chart last week. A close above last week highs could present a long idea. Long above R580 with R600 the first point of Resistance.
BTI has went into oversold conditions and created a potential Bullish Butterfly. Keep in mind it still has room to go lower to the 1.618 fib. But anywhere between the 1.272 and 1.618 is a good potential reversal area. Also right now as it stands the daily candle is a bullish hammer so looks good for now. 1st Target - $37.12 2nd Target - 37.98 3rd Target -...
This stock has just broken out of a descending channel (bullish flag pattern), and is rallying towards the weekly descending trendline. Therefore, we should see much upside towards the 58 000-60 000 are. The technicals of this trade are as follows: STOP LOSS: 52 000 TARGET: 60 000