British American Tobacco plc

Following a clear Stage 2 advancing regime and a momentum breakout, price is currently extended above rising EMAs, making immediate entry less favorable. Under the Stable strategy, execution should be deferred and focused on pullbacks into the rising 9EMA/20EMA zone or the prior resistance-turned-support area to ensure high-quality entries rather than chasing strength.

• ↑Modern oral segment revenue surged 48% in Q4, led by VeloPlus.
• ↑£1.3 bn share buyback for 2026 announced alongside 5.75% dividend yield.
• ↓Regulatory clampdown on illicit vapor products pressures cigarette sales.