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

By Amy Schwartz

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 $87.72 and $88.45 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.

In the past 52 weeks, shares of Philip Morris In have traded between a low of $69.27 and a high of $92.74 and are now at $87.91, which is 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

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 18.0% for shares of Philip Morris In based on a current price of $87.91 and an average consensus analyst price target of $103.75. The stock should discover initial support at its 50-day moving average (MA) of $86.34 and subsequent support at its 200-day MA of $81.81.

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