Downgrade Alert for BT Group (BT)
BT Group (NYSE:BT) was downgraded from Overweight to Neutral at JP Morgan today. The stock closed yesterday at $25.76 on volume of 872,000 shares, above average daily volume of 239,000.
BT Group has overhead space with shares priced $25.76, or 72.0% below the average consensus analyst price target of $91.91. BT Group shares should first meet resistance at the 50-day moving average (MA) of $32.49 and find additional resistance at the 200-day MA of $50.77.
BT Group plc provides telecommunications services. The Company provides local and long-distance telephone call products and services in the UK, international telephone calls to and from the UK, broadband network solutions and web hosting to corporate customers, network ADSL, ISDN, and IP services to communication companies and narrowband and broadband internet access and related services.
In the past 52 weeks, BT Group share prices have been bracketed by a low of $24.36 and a high of $75.37 and closed yesterday at $25.76, 6% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of BT Group on December 8th, 2015 by issuing a Downtrend alert when the shares were trading at $35.41. Since that call, shares of BT Group have fallen 27.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades bt group