BTI has been in a descending channel. Is it time for a breather before further downside? Remains a risky trade. RSI signaling a bullish divergence.
Direction: Buy
Target: R617.42
Stop loss: R549.82
Risk/Reward: 2
Traders/Investors should always make their own analysis, the idea posted is just a guideline. Risk management is always your number one priority.
The US health regulator on Thursday blocked the sale of six flavours of British American Tobacco’s (BAT) main vape brand, Vuse Alto, in the market including the menthol flavour that makes up a large portion of its sales.
This bad news comes at a time when the share price has long been in a downtrend and as can be seen by todays candle and volume, sellers came in...
BTI has recovered the falling wedge support, now above the 200 week moving average as well. The convergence of the 200WMA & wedge support represents a strong support that should guide price upwards & confirm a weekly low price by closing above the pink resistance. On a daily timeframe we see price seeking a half cycle correction. Worth noting on daily time frame...
BTI loves to oscillate between 32$ and 45$. A simple strategy would be to enter around not spot and hold through a quarterly dividend. Jet fuel in calls could also be applied to lever the bet. A >8% dividend is nice these days in this uncertain market. The company has heavily pivoted to vaping and does not need to rely on American markets.
These 4 are my top Short ideas for today into the future until the price stays below the Red TrapZone.
The picks are based on momentum, volume and price action.
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.
BTI has hit upper blue resistance where it was rejected, price can be expected to find support around current price level, however any swing highs from then on are worthy of a short entry. The pivot that forms will guide re-entry after taking profits. If price breaks below R634.01 (29 September low) then the downtrend should persist into 2023 & gives confidence to...
The last coverage of BTI was on 10.02.2023 and the outlook has not changed, link below.
BTI is the only rand hedge stock which had share price weakness despite the rand blowing out most recently, further evidence that the stock has no real bidders.
The only question is how much lower can the bears take the price as there is no clear support levels and price...
If I held and VUKE (Vanguard FTSE 100 ETF) I would sell it now to buy BATS. BATS is down 25% relative to VUKE and offering 8% dividend yield compared to ~4% for VUKE.
BTI has price has gone below 11 November low, this represent failure of a daily cycle and price turning bearish. Not far from current low is 29 September low of R634.01, if this is breached the bearish extends to the weekly price action further confirmation of a bearish trend ensuing.
For traders who were not short, the pink declining resistance line is a...
If history rhymes then British American Tobacco has broken out & did a back test of the trendline that has constricted it from April 2020 (see previous breakout & move in 2019). I would expect it to move up nicely & take partial profit 20-30% move, buy back on strategic pullbacks. An ambitious move would target 44% from breakout level.
Here we see BATS on the daily, there are three factors indicating the price may have found a bottom...
1) The RSI has formed a divergence, the RSI MA has hit the oversold 30 bar (which is a rarity).
2) The MACD has had a crossover, albeit in the lower half.
3) the share price has hit a key level, in it being the major resistance level prior to the breakout in...
BRITISH AMERICAN TOBCCO (BTI, 62568c) | In the short term, I’m seeing a megaphone formation and if it trades at support, it should likely be in a short term oversold range. In the words of Carter Worth: ‘Trend Line Touches, To The Penny!’. Provisional buy between 61300c - 61900c, with a target of 64000c - 64500
Not a BATS out of hell just yet but a breakout all the same. Broken away from 2756 and a good dividend, but now has to clear 3000 last established in Jan 2020.
BAT released its annual results for FYE 31.12.2022 yesterday.
There are some highlights and I recommend investors and traders read for themselves.
Seeing that the share traded lower on the news, it can be concluded that Mr. Market is not that excited.
Looking at BAT from an Elliott Wave perspective, it looks like the share price is going nowhere excruciatingly...
