Chart fluff For those tha look at the charts:
BTI closed today at $1.51… about where it bottomed Dec. 28th, and Dec. 21st. … approximately where it corrected to after a run from $1.23 on Jul. 23rd to $2.04 on Sept. 11th. So, the slow consolidation before any news should be steady around this $1.50 to $1.70 range. BTI is trading just above its 200 day moving average of $1.50 and remains long term bullish since last summer. Closest bullish target is $1.75 and closest bearish target is $1.30.
The last few major ‘sells’ were in the 150,00 to 180,000 volume area near the $1.55 mark. Today’s sell volume was 117,000 between $1.60 and $1.50. Of course ‘someone’ bought those shares and most were sold by good old ‘anonymous’... which could mean anything.
$1.50 would appear to be a great buy here on imminent news. Buying has appeared at this level in the past… and BTI is that much closer to news. Any opportunity to buy in this area or lower would be considered a time/buy opportunity.
There are no fundamental reasons to sell here as the Co. is tightly held by insiders with over 50% of the 40 million shares. I have no recent information on the short position, or any insider buying/selling.
News can be expected at any time over the next few weeks or so which could mean all of the above could be rendered meaningless... hard to predict exactly when and no rumours abound... a good thing.