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...
Buy NYSE:BTI Jul-21-23 $33 Strike Calls @ 0.25 Limit to Open Buy NYSE:BTI Aug-18-23 $33 Strike Calls @ 0.85 Limit to Open Price right at support on multiple timeframes. Oscillator not as clear but waiting on it might be a miss on opportunity.
I have calculated a buy value at roughly $36 (fair value based on earnings forecast minus 20% margin of security). Now we are at this price. Chart is in the main volume cluster but is falling like the entire sector (PM and MO have the same beta - volatility - at the moment) BTI is plus affecting now by the fear of american investors due to the falling of pound...
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.
A bearish trend is supported by a price action below 55300. Downside price momentum supports the bearish trend. Remains below its 200-day simple moving average. MACD crossover supports a change in trend direction to bearish. RSI leaves enough room for further downside price potential.
Have been establishing a position in BTI. Looks to be approaching value levels. Adding here as per chart with potential for it to break to the upside soon. ** NOT TRADING ADVICE **
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.
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 BTI Bounced from previous support, looking long to $40
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 -...
- Price is breaking out on the hourly - Expecting a new leg up - Defensive stock JSE:BTI