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Possible Bearish Inside Day Candle Pattern Detected for Philip Morris In (NYSE:PM)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Philip Morris In (NYSE:PM) based on the price action in the company's shares. Today's price range of $82.35 and $82.81 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 Philip Morris In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Philip Morris International Inc. operates as a holding company. The Company, through its subsidiaries, licensees, produces, sells, distributes, and markets a wide range of branded cigarettes and tobacco products. Philip Morris International serves customers worldwide.

There is potential upside of 25.8% for shares of Philip Morris In based on a current price of $82.44 and an average consensus analyst price target of $103.75. Philip Morris In shares have support at the 200-day moving average (MA) of $82.05 and additional support at the 50-day MA of $80.24.

In the past 52 weeks, shares of Philip Morris In have traded between a low of $64.67 and a high of $92.74 and are now at $82.44, which is 27% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

SmarTrend is tracking the current trend status for Philip Morris In and will alert subscribers who have PM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle philip morris in

Ticker(s): PM