SteynTrade

JSE:BTI British American TOB Reaching Overbought

Short
JSE:BTI   BRITISH AMERICAN TOB PLC
BTI has undergone distribution, a backup to the TR and is busy with a markdown. Since the beginning of 2019, it looks like a redistribution TR is taking place. Now price is approaching the overbought line. There is negative divergence with the volume RSI indicating a continuation. Will be looking some supply volume to push the price further down.

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