$MO Looking To Get VERY Long This Name In The $37 Area This is a long for on a great stock with a great divy and a long term hold - and also a GREAT buy'write at $37 - Not Advice #stocks #trading $MO
AAALTRIA GROUP INC CEDEARS EACH 4 REPR 1 ORD USD0.3333
17,750ARSD
−125−0.70%
As of today at 15:40 GMT
ARS
No trades
MO trade ideas
Altria needs to break this trend for the yield to be attractiveIt's hard for me to jump into Altria (MO) seeing how poorly the stock has performed the past 4 years. Still, it looks like a base could be forming and MO could break this recent trend making it's near 8% yield a nice addition to the portfolio. On the watchlist.
Smoking.I feel as though we are approaching a decision point for MO. As this dark pink triangle closes, we will know if it was a bearish continuation pattern.
This would encourage me to believe that a recession is really in, and the bear market rally ending, because smokers are always gonna smoke, and only a really bad recession would change that.
-OR-
If the rebound off of the "Covid" spike in March will prevail and we start the leap up (which was due prior to the spike).
Also... MO has an astounding 8.78% dividend yield.
ALTRIA GROUP Strategy Hey people, ALTRIA GROUP is in a bullish surge with large volume of purchase on the TIMEFRAME above we see that there are volume sales. Despite a rejection from the sellers, we see on the candle which asks for more to go up we are on a strong oblique, that it wants to leave great possibility of breakout the zone of consolidation to seek the precedent high.
ALTRIA GROUP can arrive at the top of the new zone which corresponds to the last highest come after the acceleration.
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Altria Elliott Wave CountAssuming the bullish thesis laid out in my previously published posts (linked below), this is my current long-term count for Altria.
With wave I of cycle degree being the longest, wave V must be shorter than wave III. This only limits MO to ~$103.44 for a move measured in price. On a percentage basis there's plenty of room to run as long as it's less than 1603%! Interestingly, Fibonnaci projections at both cycle and primary degree fall into the same zones making $76-$78 and attractive initial target. This initial target is not far from a double from current prices.
The part of this count that is less than ideal is the current 9 waves down for a correction. A complex double zigzag WXY would subdivide as 7 (A-B-C-X-A-B-C) and a triple zigzag WXYXZ would subdivide as 11 (A-B-C-X-A-B-C-X-A-B-C). This leaves one to think the bottom is not yet in. Possibly it's an ABC zigzag with an ending diagonal C explaining the overlapping waves going down.
Taking into consideration the technicals highlighted in "If you didn't know which company this was, would you buy?" are occurring on such a large time frame, I think they are likely to hold as reversal indicators. Additionally, I have presented in "Altria Fundamental Trends" a sustainable trend for profitability and dividends along with indicators Altria is relatively undervalued in "Altria Valuation."
Factoring for the confluence of long-term technicals, low historical valuation metrics for MO, and a healthy looking long-term trend in margin growth that is reflected in revenue growth for a product in secular decline I think this is an opportune time to buy shares of MO. This allows me to favor an Elliott Wave count with bullish bias and not get too hung up on an idealized corrective count. This is an individual stock that has fallen out of favor. (There are a number of reasons to expect less than perfect Elliott Wave counts here.)
If you didn't know which company this was, would you buy?Would you buy purely on the technicals not knowing what stock this is? It's tempting!
Looking at a long-term monthly chart over a 30+ year time frame you can see each time RSI reached the 32.6 level this stock has bottomed. The large time frame over which this has been observed strengthens my confidence that this could be yet another bottoming for this stock.
The last four instances dividend yield has peaked above the current 7.88% annual dividend yield, this has also corresponded with a major bottom for this stock.
On a weekly frequency, the MACD MAs have been establishing a series of higher lows further confirming a long-term bottom is forming.
Lastly, the 200 Monthly EMA has been a strong support line over this 30+ year time frame. It looks as if the 200 EMA has held once again and price is now working it's way up of this support area.
From a purely technical perspective, I would buy this stock. Even if this stocks hovers sideways along its 200 Monthly EMA there is a nearly 8% dividend to collect.
With all that said, I do think this is a controversial stock but I think there's a compelling fundamental story too. Gross margin % and operating margin % have been steadily increasing over this long time period. There are also new frontiers (such as cannabis $CRON) which have the potential to be profitable investments in the long-run. However, Juul is an example that hasn't worked out well and resulted in losses for the company. The company currently trades at 9.41 full-year forecasted earnings and price-to-sales ratio of 3.85.
I still think this is an opportune time to get in at cheap valuations supported by technicals meanwhile collecting a large and sustainable dividend.
Ascending Triangle with Bearish Divergence in a DowntrendMO has been in a downtrend for a while now. Currently, there is an ascending triangle pattern occurring, with Class B bearish divergence on both oscillators. If the trend is your friend, and the technical analysis on the oscillators are respected, then there's an indication of a potential shorting opportunity. The measured move of this pattern for a short almost lines up with the 786 fib retrace, for a potential profit of approximately 43.5%. We would place our stoploss at Dow's 50% retracement.
I am told by other traders and analysts wiser than I that this is not exactly a low risk trade. We are in a market that the Fed is willing to prop up no matter what, and during high stress situations such as a pandemic, people are prone to fall back on habits including smoking cigarettes (even though I would think that a very unwise decision considering this disease). So, this trade could end up falling apart. For that reason, it might be wisest to void entering a position until this trade breaks out to the downside of the ascending triangle.
Altria LongtradeHey everyone,
just got this little longtrade idea for you. The elloit waves point out the transition point for wave 5 which starts at the 50% fibo level.
In addition to that the Bollinger Bands and the RSI are quite ok.
Entrance: now
Stop: 40,30$
TP: 43,20$ - 44,50$
Much fun with the Trade!
Just leave a follow :-)
MO: ASCENDING TRIANGLE PATTERNHello traders!
MO seems to be continuing its ASCENDING TRIANGLE PATTERN! I strongly believe that this is a good time to go long on this stock. RSI is looking upwards and it is NOT OVERBOUGHT yet, BEARISH MOMENTUM is very weak and the last two candles show us a clear bullish pattern: ONE WHITE SOLDIER PATTERN.
The only question is … What are you waiting for?
Remember to put a stop loss in order to secure your capital!
Not a financial advice.
Enjoy your trade!
