Range breakout British American Tobacco
Britsh American Tobacco
The share has been trading in the R708-R494 range since 2019. The share has been trending downwards towards the bottom of the range, before pausing first in the R600-560 range. It recently tested the 50 week EMA, and it held well as resistance. If we break below the R560, more so below R543 (3% below the support). We could see some more pressure on the share targeting the R494 levels.
Trading plan: villagetrader.co.za/2020/10/19/week-19-23-october-analysis/
The share has been trading in the R708-R494 range since 2019. The share has been trending downwards towards the bottom of the range, before pausing first in the R600-560 range. It recently tested the 50 week EMA, and it held well as resistance. If we break below the R560, more so below R543 (3% below the support). We could see some more pressure on the share targeting the R494 levels.
Trading plan: villagetrader.co.za/2020/10/19/week-19-23-october-analysis/
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