Relevant articles for you

Video

#SaxoStrats
The Asia-Pacific session saw investors step in to pull the Nikkei 225 index out of a week of declines in which it briefly breached the 22,000 level. EURUSD, meanwhile, continues to look robust despite a lack of support from other major dollar pairs.
Squawk / 08 August 2017 at 8:37 GMT
Technical Analyst / PIA-First
United Kingdom
Tobacco stocks continue to look weak in the current market. British American Tobacco (BATS:xlon) recently completed a head and shoulders top pattern and has successfully retested the new resistance level.

The shares now look ready to roll over again to the downside and target the measured move of the formation at 4668p. The shares have already visited this level following the sharp move lower last week.

I expect to see the shares revisit this level and for an extension of the move to the downside towards 4360p.

Imperial Tobacco appears equally as weak but my preferred play is BATS for now.

Sell at market (5006p)
Stop loss at 5200p
Target 1: 4670p
Target 2: 4360p

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail