BT Group within a bearish channel
Nicolas Suiffet August 24, 2020 12:14 PM
BT Group's board has consulted Goldman Sachs on takeover defense strategy, after its share price has dropped more than 35% in the last six months, reported Sky News citing people familiar with the matter
BT Group's board has consulted Goldman Sachs on takeover defense strategy, after its share price has dropped more than 35% in the last six months, reported Sky News citing people familiar with the matter.
From a chartist point of view, the stock price remains within a bearish channel in place since March 2020. The 20/50DMAs are heading downwards. Bollinger bands are narrowing indicating a lack of momentum. As long as 119p is resistance, the downside prevails. A break below 100.9p would open a path to see 87p (lower channel boundary). Alternatively, a push above 119p would call for a reversal up trend with 138p as target.
Source: GAIN Capital, TradingView
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