British American Tobacco

• BAT's share price has gone up 23.596 from RM28.42 to close at RM35.10, since our technical view dated 15/05/2018. Last Thursday, it had a minor pullback, down RM 1.60 from RM36.70.
• Overall, the underlying uptrend of the share remains intact. As such, expect follow through buying towards resistance at RM40.00 (R1).
• Meanwhile. downside supports. are at RM34.46 (S1) and RM31.18 (S2)
• Aggressive investors may take position on BAT call warrants (41620) to capitalise on the potential upside for the highest leverage compared to call warrants (4162 CL) and (4162CK).

Source: Rakuten Research - 18 Jun 2018