BATS... Time to buy the bottom of the Dip?! Long

BRITISH AMERICAN TOBACCO ORD GBP0.25LSE

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⋅ Apr 6, 2023 9:14 PM

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 2021.

Also, let us note that BATS has a "buy" rating, and price target of £35 to £41, and is currently yielding over 8%.

Obviously there might be something happening with the company behind the scenes, but I think that is unlikely as we can see insiders have been doing nothing but buying...
lse.co.uk/DirectorsDeals.asp?shareprice=BATS&share=British-American-Tobacco

Therefore, if I had sold out, which I should have done at £36, I would more than be happy buying back in now. However I didn't sell any, as my average was only £28, so I will top up on this drop and more so if we are lucky to see £26 again.

Thanks!