MO have the MOmentum to keep going up?
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 status on weekly, as it's been a good buy across the lower TFs
Shorts are dropping to 25 on the weekly DMI, a steady decline. On H4 MO has conquered months-long moving averages. Across multiple timeframes, this is a good Hold- Long.
First support/resistances shown along with multiple fib levels across various waves
SL @ 57.89-57
As always, bear in mind any news and Dividend dates
(yes, corny title)
A strong open above the 200 EMA is pushing MO toward buy status on weekly, as it's been a good buy across the lower TFs
Shorts are dropping to 25 on the weekly DMI, a steady decline. On H4 MO has conquered months-long moving averages. Across multiple timeframes, this is a good Hold- Long.
First support/resistances shown along with multiple fib levels across various waves
SL @ 57.89-57
As always, bear in mind any news and Dividend dates
(yes, corny title)
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