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Published on Oct 26, 2016
King
of Charts Zak Mir tells Proactive that telecoms giant BT Group
(LON:BT.A) is showing signs of recovery, with technical analysis
suggesting that the time is right to buy into the company.
Mir says that the potential enforced split of its Openreach division is what has led to the share price sliding by more than 20% so far this year.
Speaking exclusively to Proactive though, he’s confident that there is now some real momentum behind this stock.
“[Shares have] been sliding for months, basically since the end of last year, from £5 to £3.60 and, with the higher lows in place and the higher highs, [this looks like] quite a favourable chart.”
“The obvious target here would be towards £4.20 to £4.40,” Mir concludes.
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