PM Possibly Gearing Up For a Bullish Breakout!
This analysis is through a 1yr timeframe so keep that in mind when considering your trade timeframe. MACD signaling a bullish cross should lead to strong price appreciation in PM in the short term. If PM is able to pass above the channel resistance line (red trend line) then I expect to see a large break to the upside. If it does not reach and or break above the channel resistance line I expect prices to retreat back to support at 86.01. Seems a bit risky to buy equity here, PM obviously being a tobacco company with a poor public image, but I like the idea of getting long on some 1-2 month expiration calls here if you have some extra cash on hand.
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