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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
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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
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