PHM7 trade ideas
TrendyTrades: MO Bullish AnalysisBreaking out of a wedge, 48.72 a key level, if price gaps up and pulls back it'll most like bounce off this key level. IF no gap up, price would need to close above 48.72 for confirmation for a bullish trade.
TrendyCharts will soon no longer be available, Follow my Twitter for updates.
$MOIf you zoom out to the monthly timeframe you’ll notice Altria Group has been struggling for the past 3 years, only this year has it started to pick up.
Altria forecast full-year adjusted earnings per share of between $4.56 and $4.62.
Which is a bit below Wall Street's forecast for $4.60.
For the second quarter, Altria earned $1.23, up 12.8%.
Sales grew 8.9% to $6.936 billion.
Altria has faced questions about cigarette demand amid rising health consciousness. While customers clung to their smoking habits last year amid the stress of the coronavirus pandemic, struggles continue at vaping startup Juul which received a big investment from Altria.
However, Altria's efforts to become less of a traditional cigarette company have hit a snag. The company said Philip Morris USA, which it owns, had delayed further expansion of its Iqos and Marlboro HeatStick heat-not-burn tobacco products.
Altria cited the "uncertainty" stemming from a patent infringement case as the reason.
But as we turn to the technical analysis, $MO has formed a symmetrical triangle that looks ready to break on the daily.
We also have the MACD above 50 and the RSI looking bullish.
Before getting in this trade, wait for the break to the upside or downside.
Keep this on your watchlist!
$MO daily chart, possible 2nd view im taking on itFirst i seen the clear bull flag, then zooming out i see a pennant here forming, can this play out????????????? im in July 16 52.5 55 AND 57.5 calls (NOT A RECOMENEDATION NONE OF THIS IS ANY FINANCIAL ADVICE OR RECOMEDATION BY ANY MEANS MY PERSONAL JOURNAL)
$MO with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $MO after a Negative over reaction following its earnings release placing the stock in drift C
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
MO drops on Biden banning nicotine?lol what? Tobacco stocks are dropping on news that Biden is planning to restrict nicotine content in tobacco products. This brings NYSE:MO down about -12% from the high two days ago but still up 14% on the year. It is an attractive dividend yield play at this price (about 7%) but waiting for it to come to a proper support before buying myself.
I like NYSE:MO actually as a pot stock play. They are already positioned in the industry through acquisitions a few years ago. I think that companies who have hundreds of years of experience in growing, cultivating, processing and (most importantly) marketing smoking products will do well in the long term future.
MO looking good but at/near resistanceAfter breaking a long multi-year down channel, looks like it touched briefly at resistance of the 51-52 region. Just one day so hoping this remains in the area and breaks through with a retest as support.
Green bar is what I've staged as a longer term support level and blue bars previous points that the price action was rejected - and will likely act as resistance in the future to come.