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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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.