British American Tobacco

British American Tobacco ( BTI , 52040c) - Equity holders of the share should take cognizance of the long-term technical risk as the price continues to trade near its horizontal support zone at 50880c while currently breaching the incline support in place since the swing lows of January 2019. The aforementioned horizontal support has remained in place since August 2019 while the price has continually developed lower highs. For the value to become apparent, the price needs to clear and hold R575-580. The current structure however suggests persistent weakness and buyers lacking conviction. Monthly chart.

The above is an extract from today's research note, which also includes SHP , CML , SYG, ANG and AMS (local) as well as AMZN , AVY , HPE , NXPI , MTH in the US.

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