Insights for November 2018

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Posted by ShrutiAggarwal on 23 November 2018, 4:53 AM

BT group plc, a buy at the current levels

BT group plc is a buy at the current price. The stock finished trading on the London stock exchange at 254.0p, down by over 1.33 percent compared to the last close. In terms of technical analysis and charting, the stock has been on a rising trend over the past few months and we expect the uptrend to continue in the coming days as well.  The stock has been constantly making higher highs and lower lows which further confirms the bullish trend of the stock. The stock has also been trading above its 20-day moving average (DMA), 50 DMA and 100 DMA of 252p, 240p and 230p respectively. Trading above both short term and long-term moving average is also a good sign for the bulls. The immediate support and resistance lie at 264p and 250p respectively. For a continued-up move, a breakout will come if the stock would surpass 264p and trade above that for some time. However, a breach below 250p may take the stock to the lower levels. Therefore, traders or investors are advised to keep an eye on the respective levels and accordingly take their position.

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Topics: Analysis
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