Technical outlook:PM bullish scenario:Technical outlook:
PM bullish scenario:
We have technical figure Triangle in US company Philip Morris International Inc. (PM) at daily chart. Philip Morris International Inc. is an American multinational cigarette and tobacco manufacturing company, with products sold in over 180 countries. The most recognized and best selling product of the company is Marlboro. The Triangle has broken through the resistance line at 05/12/2020, if the price holds above this level we can have possible bullish price movement with forecast for the next 11 days towards 83.87 USD. Our stop loss order should be placed at 75.69 USD if we decide to enter this position.
Fundamentals:
The Dutch competition watchdog said it had fined four major tobacco makers including Philip Morris and British American Tobacco a total of 82 million euros ($95.7 million) for “distorting competition.”
- In a statement, the Authority for Consumers and Markets (ACM) said the four had illegally exchanged information about future pricing plans in the 2008-2011 period.
