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Possible Bearish Inside Day Candle Pattern Detected for Altria Group Inc (NYSE:MO)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Altria Group Inc (NYSE:MO) based on the price action in the company's shares. Today's price range of $56.71 and $56.71 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Altria Group Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Altria Group, Inc. is a holding company. The Company, through subsidiaries, manufactures and sells cigarettes and other tobacco products, including cigars and pipe tobacco. Altria holds an interest in a brewery company.

In the past 52 weeks, shares of Altria Group Inc have traded between a low of $42.40 and a high of $66.04 and are now at $56.71, which is 34% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

Altria Group Inc has overhead space with shares priced $56.71, or 19.1% below the average consensus analyst price target of $70.07. Altria Group Inc shares have support at the 200-day moving average (MA) of $56.18 and additional support at the 50-day MA of $53.67.

SmarTrend is tracking the current trend status for Altria Group Inc and will alert subscribers who have MO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle altria group inc

Ticker(s): MO