Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
In my last article on British American Tobacco (BATS) I was looking for a support near 3050p. The stock declined to that level in January this year but in the last four weeks a strong rally has unfolded. Nothing has changed since August last year. The underperformance of the stock relative to the FTSE 100 depicted by the falling green line on the chart still remains and emerging markets are still slowing down.
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