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PHILIP MORRIS INTLPHILIP MORRIS INTLPHILIP MORRIS INTL

PHILIP MORRIS INTL

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4I1 trade ideas

Philip Morris extremely overboughtPhilip Morris ($PM) is showing some great short entry signals: M bollinger bandpattern on decreasing RSI. Second, slightly lower peak with decreasing volume. Bearish engulfing candle with almost no lower wick means no buying pressure at the close. Personal Strategy: Given the bearish engulfing pattern, an immediate entry is acceptable. Take some profits of table when price hits $110. If price breaks the $110 resistance, and continues down through the $109.35 mark, hold through to the $104.12 resistance. If price does not continue down through either $110 or $109.35, exit entire position.
NYSE:PMShort
by mologna