Shares of MO have been under tremendous pressure since the FDA mentioned banning methol cigs/e-flavors, but don't let that fool you. This cash cow has plenty of firepower to withstand this minor hiccup and as shown on the chart, has fallen exactly to trend line support going back to 1969 (almost 50 years). This is a screaming buy!
I'm already long shares,...
If any stock can do a fakeout, it's Altria. We've seen intense selling to where the RSI is no good. FDA pressure and fears of menthol bans accelerated the selling momentum. We broke down through the channel, furthering bear strength and then through a strong support slope. Yearly bottom of April has held. I'm seeing a bear flag, yet overlapped with a semblance of...
Predicted trading ranges for the next 8 weeks. Weekly chart information overlapped with other time frames. Key level broken today. Good day for all Altria investors.
Yesterday when the market went down upon open, I cut loss on $MO 1019C62 call (0.5 from 0.83) thinking without checking it will also drop with the market. It actually went up pretty well and closed at my original entry price. Today 10/5 it is still relatively strong.
Lesson is do not trade based I what I think - trade the charts and trends.
Stock is currently in a downward trend. Before 2018 strong upward trend. Thus, might be now only a correction on higher timeframes.
However, downward trend shows strength. I like the short-term upward trend, which I classify to be only a correction within the down-trend. Recently price showed sign of weakness, by the relatively deep downward pull within the last...
$MO - Heavy selling today in Altria Group Inc, along with $9M in December Puts being purchased at $60 & $55 strikes. It appears the strong resistance at $61 is holding and stock is headed for further declines (lower low) into next ER in late October.
Medium term price target - $50 by late October
Note: Informational analysis, not investment advice.
On the weekly timeframe, MO (Altria) is back to a level we've missed for some months. Buyers were able to break the .78 fib retrace and a strong downslope resistance. The weekly close was confirmation after last week's daily close zone. 57.50 was a strong buyer support zone for 4 straight week closings.
A strong open above the 200 EMA is pushing MO toward buy...
Altria MO is currently well oversold and is over-extended below it's short term and longer term MAs. A return to the mean allows for a 5-15% opportunity based on price structure.
- Good quality stock.
- May test 61 support and form double bottom and bounce off from there. Or it may break down and retreat to 51-56 level before picking up.
- Plan: enter at 61-62 with stop loss just below 60. If that doesn't work, enter again at 54 level.
"MO": {
"max": 77.71,
"close ": 65.43,
"close /max": 0.84197658,
...
Technical Concept: Support broken becomes Resistance (Red Arrows= Resistance) (Blue Arrows= Support)
I not use sophisticated Technical jargon in an attempt to persuade and impress the reader because I not a Charlatan
I do not use fancy Charts plenty of Indicators, Oscillators, and other stuff, all in a stock chart in an attempt to impress
the reader with my...
