Hi traders,
Taking a closer look at British American Tobacco (BATS), we can observe the formation of a falling wedge pattern over the past few weeks, indicating a potential bullish reversal.
British American Tobacco, a leading global tobacco and nicotine products company, has faced some market challenges recently. However, the company's diverse product portfolio and strong market presence suggest significant underlying strength.
The falling wedge pattern is characterized by converging trendlines, where both the highs and the lows are declining, but the highs are falling faster than the lows, forming a wedge shape that slopes downwards.
This pattern often signals a potential reversal from a downtrend to an uptrend.
As BATS approaches the apex of the falling wedge, a breakout above the upper trendline could confirm the bullish reversal. Entering a long position upon confirmation of the breakout appears favorable.
1st Take Profit: 70.40
2nd Take Profit: 76.98
Final Target: 85.90
Taking a closer look at British American Tobacco (BATS), we can observe the formation of a falling wedge pattern over the past few weeks, indicating a potential bullish reversal.
British American Tobacco, a leading global tobacco and nicotine products company, has faced some market challenges recently. However, the company's diverse product portfolio and strong market presence suggest significant underlying strength.
The falling wedge pattern is characterized by converging trendlines, where both the highs and the lows are declining, but the highs are falling faster than the lows, forming a wedge shape that slopes downwards.
This pattern often signals a potential reversal from a downtrend to an uptrend.
As BATS approaches the apex of the falling wedge, a breakout above the upper trendline could confirm the bullish reversal. Entering a long position upon confirmation of the breakout appears favorable.
1st Take Profit: 70.40
2nd Take Profit: 76.98
Final Target: 85.90
Note
so far so good
💥 Free signals and ideas ➡ t.me/vfinvestment
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.
💥 Free signals and ideas ➡ t.me/vfinvestment
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.