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1st Mar 2021. 9.23am

UK EQUITY TRADE

Ticker BT.A
Direction Short
Enter At market (125.8p)
Stop 130p (4.2pts 3.3%)

Regency View:

SELL BT Group (BT.A)

BT break lower from mini-range

After spending two weeks trapped in a tight 5p range, BT’s share price finally tipped its hand on Friday, breaking and closing decisively lower.

This morning’s price action has seen the shares bounce with the market – taking prices back to the broken range and we expect this to provide resistance.

Strategy:

Enter short at market prices with a stop back above Friday’s highs. We’re looking for a retest of early-Feb lows at 120p.

BT.A Daily Candle Chart

BT.A Daily Candle Chart

Disclaimer:

All content is provided for general information only and should not be construed as any form of advice. The signals provided by Regency Capital are not regulated by the Financial Conduct Authority (FCA) and as such customers who subscribe to this service will not be eligible for the Financial Ombudsman Services (FOS) or the Financial Services Compensation Scheme (FSCS).