BATBAT was a bit unpredictable after such a huge GAP DOWN but it presented an opportunity to buy the stock at a discounted price for a medium-term position.
Most of the time, a GAP DOWN has to be filled before the stock price resumes its' downward trajectory. The stock price will recover to its previous support, in this case Kes 400, which will be the new resistance and the stock will settle at a new support price, or obey historical support levels.
This analysis is in line with the upcoming book closure. The stock price will not hold above Kes 400.
