Which scenerio for MO?
In general we can look forward MO wil be ABCD harmonic pattern.
Now we can refine Wave I and Wave II been finished and forming wave III. And we can draw a suitable long term channel.
-The price now will be swing in triangle pattern and find energy to breakout. This is the first potential buying entry (Pocket Pivot).
-The price will aim to...
Here you see we are approaching a death cross. Short term I think we go lower especially with uncertainty in the market. Bought puts to hedge against this movement, then buying in my long term portfolio once support is found.
MO has been in a consolidation range since the administration talked about banning menthol cigarettes. You could even use a spread since this is lining up well. The strength we are seeing in consumer staples would suggest this goes higher though. GLL
Breaking out of a wedge, 48.72 a key level, if price gaps up and pulls back it'll most like bounce off this key level. IF no gap up, price would need to close above 48.72 for confirmation for a bullish trade.
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If you zoom out to the monthly timeframe you’ll notice Altria Group has been struggling for the past 3 years, only this year has it started to pick up.
Altria forecast full-year adjusted earnings per share of between $4.56 and $4.62.
Which is a bit below Wall Street's forecast for $4.60.
For the second quarter, Altria earned $1.23, up 12.8%.
Sales grew 8.9% to...
8ema (white) is new axis of support, we will watch, as long as it doesnt break this support we are golden to have a 8ema/200ema(green line) crossover which would break out of the channel for a massive bull run, on top of this its forming a cup and handle :)
First i seen the clear bull flag, then zooming out i see a pennant here forming, can this play out????????????? im in July 16 52.5 55 AND 57.5 calls (NOT A RECOMENEDATION NONE OF THIS IS ANY FINANCIAL ADVICE OR RECOMEDATION BY ANY MEANS MY PERSONAL JOURNAL)
MO appears to be completing a wave 4 of 3 of 5 of 3.
Main prediction count in blue for an extended wave 3 of 5 of 3. This puts wave 5 of 5 of 3 fib extension to that of wave 5 of 3.
Alternate count in yellow given no extended wave 3 of 5 of 3.
The PEAD projected a Neutral outlook for $MO after a Negative over reaction following its earnings release placing the stock in drift C
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