• Return to Headlines

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

By James Quinn

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 $86.52 and $86.52 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 19.9% based on a current price of $86.52 and analysts' consensus price target of $103.75. The stock should hit resistance at its 50-day moving average (MA) of $86.63, as well as support at its 200-day MA of $82.52.

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 $86.52, which is 34% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has remained constant.

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.

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