I put out a idea on this UK stock back in January, 2017 suggesting shorting it at 302 and since then it went a lot lower. Recently it has been showing some signs of life to the upside and I am now suggesting this as a possible bullish count. The major problem I have with this count is that b wave in the correction is very short indeed.
Fundamentally, BT group is under enormous pressure and the stock has been in a steady decline.
Given the downgrading issued by BarCap yesterday, and the increase in competition, this stock has great bearish potential.
Targets could move to 70p / 100p
Follow the comments on the chart! if If the price goes up to the size of the stop loss point, put the stop loss on the entry point, Stop loss means that the closed price must be below the Stop line, the shadows are not acceptable
After what might have been an extended wave 5 BT could expect a protracted fall to around the level of wave 4 of the climb up. The massive drop of 25/01/17 may be the start of an accelerated decline in a wave 3.