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

By David Diaz

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 $102.22 and $102.97 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 In (NYSE:PM) has potential upside of 19.6% based on a current price of $102.38 and analysts' consensus price target of $122.47. The stock should discover initial support at its 50-day moving average (MA) of $97.46 and subsequent support at its 200-day MA of $88.67.

Philip Morris International Inc., through its subsidiaries, affiliates and their licensees, produces, sells, distributes, and markets a wide range of branded cigarettes and tobacco products in markets outside of the United States of America. The Company portfolio comprises both international and local brands.

Philip Morris In share prices have moved between a 52-week high of $123.55 and a 52-week low of $86.78 and are now trading 18% above that low price at $102.38 per share. The 200-day and 50-day moving averages have moved 0.30% higher and 0.56% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Philip Morris In. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Philip Morris In in search of a potential trend change.

Keywords: bearish inside day candle philip morris in

Ticker(s): PM