This note is an extract from my weekly research report
Brait (BAT) | On Friday, volume was substantially higher at 5.38m shares traded versus it's 50-day average of just over 1 million shares. The share also traded close to 2 std deviations below it's 200-day linear regression and also developed a long candle wick on the day, suggesting strong buying interest off the lows. I'm look for the share to start developing a base around these levels with a medium term move toward the mean between 360c and 380c.
Brait (BAT) | On Friday, volume was substantially higher at 5.38m shares traded versus it's 50-day average of just over 1 million shares. The share also traded close to 2 std deviations below it's 200-day linear regression and also developed a long candle wick on the day, suggesting strong buying interest off the lows. I'm look for the share to start developing a base around these levels with a medium term move toward the mean between 360c and 380c.