MO on the movePredicted trading ranges for the next 8 weeks. Weekly chart information overlapped with other time frames. Key level broken today. Good day for all Altria investors.
MO
$MO Heavy Selling Today - Additional 15% Downside Expected$MO - Heavy selling today in Altria Group Inc, along with $9M in December Puts being purchased at $60 & $55 strikes. It appears the strong resistance at $61 is holding and stock is headed for further declines (lower low) into next ER in late October.
Medium term price target - $50 by late October
Note: Informational analysis, not investment advice.
MO RSI Divergence ShortMO formed a bull flag in the last quarter of 2016 and has broken out to higher highs. The RSI has not followed and confirmed the price strength. The target for the bull flag is $74 price level.
Watch for confirmation of price action and RSI Divergence. We will then look to buy puts.
