Philip Morris: New Motivation!
Philip Morris has gained new motivation, stretching visibly higher in its chart. Still, the price has more upward distance to cover before reaching our turquoise Target Zone between $119.47 and $123.80. Once the top of the turquoise wave B has been established there, the stock should sell off below the support at $82.95 and, afterward, into our green Target Zone between $77.61 and $62.42. The low of the green wave [2] should then initiate a bullish trend reversal. However, we consider it 35% likely that the green wave alt.[2] has already been finished. In this case, PM would surpass our turquoise Target Zone.
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