BT share price: Warning lights flashing
Like Brexit, BT's share price is complicated, so our chartist urges investors to watch closely.
9th April 2019 09:05
by Alistair Strang from Trends and Targets
Like Brexit, BT's share price is complicated, so our chartist urges investors to watch closely. Â
BT Group (LSE:BT.A)Â
BT (LSE:BT.A) is a share with a painfully obvious uptrend since the market crash of 2009.
Equally, the price has taken a hammering since before the Brexit vote of 2016, with the share eventually achieving a logical bottom at 200p.
The period since has tended to mirror UK political confusion with the share price not knowing what to do!
The immediate situation is fairly straightforward, if somewhat worrying. Unless the price manages above 237p, it's trading in a region where weakness now below 214p indicates coming reversal to a pretty tame looking 205p.
If broken, our secondary calculation rings alarm bells at 190p.
We've a big problem, if 190p opts to make a guest appearance!
Visually, this will present a lower low. Worse, it takes the price firmly into a zone where longer term reversal to 99p becomes a very distinct possibility.
We would, however, expect a bounce at 99p due to the price coming close to the worst of "the crash" of 10 years ago.
What happens if it somehow manages above 237p? It appears slight recovery to an initial 243p is possible. If exceeded, our secondary calculates at 264p, along with some almost certain hesitation as the price matches some prior highs.
For now, like politics, it's complicated...
Source: Trends and Targets   Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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