BT Group shares extend rally as Virgin Media O2 considers Openreach deal

BT Group shares extend rally as Virgin Media O2 considers Openreach deal
Openreach deal prospects lift BT momentum

​BT Group is back at a key resistance zone as a potential Virgin Media O2 deal could strengthen Openreach’s wholesale business. The next test is whether buyers can clear GBX 225 and extend the move toward GBX 242.

BT-A price prediction
24H 0.33%
GBX 228.05
48H 0.48%
GBX 228.4
7D 0.2%
GBX 227.75
1M 6.29%
GBX 241.59
3M 6.68%
GBX 242.48
6M 22.85%
GBX 279.23
12M 10.8%
GBX 251.85
Current price: GBX 227.3 14.30 6.71%
Closed 10/30
Daily range 221.50 Arrow from to Icon 229.00
Weekly range 208.30 Arrow from to Icon 229.00
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The Financial Times reported that Virgin Media O2 is nearing an agreement to use Openreach’s fibre network to connect new customers outside its own coverage area. BT’s rival is reassessing investment in network expansion as it grapples with a heavy debt burden and intensifying competition.

A deal could increase wholesale revenue for Openreach without requiring BT to commit to another major round of infrastructure spending. No agreement has been finalised yet, however, and both companies declined to comment on the talks.

A break above GBX 225 could open the way towards GBX 242

BT shares have fully completed the scenario outlined previously, reaching the GBX 220–225 target zone.

GBX 225 is now the key resistance level. A break and sustained move above it would create room for a test of the local high near GBX 242.

RSI (14), however, has moved into overbought territory and could limit further upside in the short term.

In that case, the shares may pull back towards GBX 220–218, allowing the indicator to cool before another attempt higher.

November 5 earnings raise overnight trading risks

BT Group is due to publish its half-year results on 5 November, according to the company’s official financial calendar. As the release approaches, volatility could increase and the market’s reaction to new information may become more pronounced.

Short-term traders may therefore want to exercise greater caution and, where possible, avoid carrying positions overnight. The closer the results get, the greater the risk of sudden price moves.

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