PM pushes through previous session high

Philip Morris International (PM) Technical Analysis Report for Apr 16, 2018

Highlights

PM pushes through key resistance level
PM pushes through 100-day moving average
PM closes higher for the 2nd day in a row
PM pushes through previous session high
PM rises to highest close since March 15th

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, PM finished Monday at 102.95 gaining $1.10 (1.08%). Today's closing price of 102.95 marks the highest close since March 15th. Closing above Friday's high at 102.33, the market confirms its breakout through the prior session's high having traded $1.02 above it intraday.

Daily chart for PM

Volatility

Monday's trading range was $1.62 (1.58%), that's below last trading month's daily average range of $2.03. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

Breaking through the key resistance level at 102.29 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 104.01.

Trend

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock managed to break above the 100-day moving average at 102.95 today for the first time since March 2nd.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Philip Morris International

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Latest Report:

PM pushes through previous session high

Sep 21, 2018
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