Get started
munyaelliott

BRITISH AMERICAN TOBACCO (BTI) 4-HOUR TIMEFRAME SHORT

Short
BRITISH AMERICAN TOB PLC (JSE:BTI)  
munyaelliott  
JSE:BTI   BRITISH AMERICAN TOB PLC
Trend Analysis Chart Patterns retest kissandgoodbye BTI britishamericantobacco jse jsetop40 jse_top40 southafrica ramaphosa
2
1
trendanalysis chartpattern retest kissandgoodbye bti britishamericantobacco jse jsetop40 jse_top40 southafrica ramaphosa
The share price for British American Tobacco (BTI) has been moving in a descending channel on the daily timframe, as evidenced by lower highs and lower lows. The price has just broke out of a corrective ascending channel (counter trend) on the 4-hour timeframe and came back to retest the previous-support-turned-resistance at the price level of 57730. I expect prices to trickle down further, if they do not create higher highs and higher lows, and the possible targets are:
Target 1: 50 720
Target 2: 43 856
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.