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Maybe that's the point...Why pay more for buybacks?
These guys need to start the buybacks ASAP. Forget about reducing debt, the market is gifting them absurdly cheap shares at the moment!
No results tomorrow their next update is on 9th April . The tobacco sector fell today due to Big tobacco firms Imperial and BAT fall on vape tax plan
Shares in tobacco giants British American Tobacco PLC (LSE:BATS) and Imperial Brands PLC (LSE:IMB) fell on news that vaping and cigarettes could be hit with new taxes in the UK.
Prime minister Rishi Sunak and chancellor Jeremy Hunt are mulling introducing a new tax on vapes at next Wednesday's Budget, according to media reports.
Tobacco sector fall today, mostly related to Imperial tobacco 4.81% fall. No news, but did find comment on the IMB, site that IMB results are due tomorrow and that commentator , suggests there may be a leak about the results . IMB already went ex dividend recently, so fall not related. I know that BATS, has already marked down the value of its tobacco estate, but dont know if IMB, has done or is due to do much the same.
Added a few more myself today. Would be surprised if we did not have a go at the 200 DMA within the next few weeks or so. Over 9% dividend while we wait! GLA.
The last few days or weeks have seen Institutions increasing their Holdings. British American Tobacco is increasing the Dividend through the 2024/25 Financial Year, a bond raise, and Selling a part of ITC or the whole depending on how the Regulators in India resolve the outlook. The growth for the year is between 3 to 5% for the 2024/25 year as guidance.
The article from Market Beat 21/2/24 shows who has bought.
https://www.marketbeat.com/instant-alerts/nyse-bti-sec-filing-2024-02-21/
Happy Investing
Seems to be on downward trend at the moment Stargate. :(
Broker Jefferies, recent price target is 3200. There is however significant overhead supply from previous trading volume, at 2500. Major down trend line from 6/12/22, was broken upward ,in recent weeks, meaning that line of least resistance is upward . Tobacco sector, is holding support at 27000.
20 week moving average at 2357, and 20 day moving average at 2368, should be expected to provide support to last closing price of 2360.50. Tobacco sector chart at 27000 level also expected to provide support to sector. BATS, weekly chart cy-2, price bar , close 2365, likely support to current sp, of 2369.50. Highest volume today for a number of weeks.
To be honest Barney182, nothing surprises me with FTSE dividend shares anymore.
It'll probably drop to 2000p but I think it should comfortably be around 2800-3000.
I'll certainly add below 2500p
Where do you see the Share price going loaf?
After selling one stock at a profit, I've added another 115 BATS shares.
With solid earnings, decent news regarding non combustible sales & a 9% dividend yield !
What's not to like ?
Bit of a dip today Stargate. 7% rise would be great!
Outside bar definition , is where the range of the price bar , has a higher high and a lower low , than the previous day. Depending on the time period, this definition can also apply to weekly and monthly price bars.
Outside bar days on 13/2/24, and 15/2/24, which signifies range expansion. Resistance has meant that the 15/2/24,closed at the midpoint of the 13/2/24 outside bar. The 180 bullish setup, for 15/2/24 , occurs where close, is in bottom 25% of previous day trading range , and close is in top 25%, of 15/2/24, trading range and sp, is above 10 day and 50 day moving averages. The trade is made just above the 15/2/24 outside bar high at 2432. Since the high break, has not triggered, the setup is still open, for a break at 2432 or higher. If triggered a standard rise of 7% might be expected. DYOR.
Looks like the SP is coming back as the day goes on Stargate
Projected BATS, volume today increased to 2.2 million, however, what I found last Friday, was that a lot of additional volume , was added, after 4.30pm, and before 7.00pm. Still relatively low estimated volume, but potentially subject to revision upwards, for what may be a Friday phenomenon, after 4.30pm.
Nice Stargate, lets hope we see some support later in the day!
BATS and tobacco sector down today. On current volume, I project end of day volume in region of 1,300,000, which is lightest volume for 35 days. Sp, is in vicinity of day cy-2, open price of 2404.5, which I would expect to provide some support today.
Awesome analysis, thanks Stargate
Imperial tobacco went ex-dividend today and news article advised that imperial sp, fell 3.4% as result ex-dividend. This fact confirms the tobacco sector would have shown a rise rather than small loss, today. So the overall tobacco sector, chart is more positive, than appeared today.
Barney182, BATS, today was the strongest tobacco sector riser, as well as closing one point above recent pivot low. The tobacco sector today printed a japanese doji(very small difference between open and close, and large h-low difference)(14/368). This is signicant because it often signifies smart money taking an equity position. The high and low of the doji, each can point direction of price action. Close was above midpoint of doji, high/low, which is bullish. Overhead supply from previous trading volume , 2477-2570, and volatility based top bollinger band likely to be at 2465 tomorrow. Not forgetting recent sp, top at 2499. Sp, requires to close above doji high of 2432, to take a position, bearing in mind nearby immediate resistance 2465-2477.
On the move up today !
Well done. I am surprised that the SP did not at least consolidate around that rise. With hindsight, I would have sold up too and bought back in lower tranches. Never mind. Will add more if we go all the way back to the mid 22's, although having a fair lot of these already, I would rather not have the chance! GLA.
Hi Stargate, where do you see BATS SP going in the next few months in your opinion please ? I see it peaked in Feb on the results but is there any expected spikes imminent?