• Return to Headlines

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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Altria Group Inc (NYSE:MO) based on the price action in the company's shares. Yesterday's price range of $58.02 and $58.72 is within the prior day'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. Traders and investors interested in shares of Altria Group Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Altria Group Inc has overhead space with shares priced $58.50, or 16.5% below the average consensus analyst price target of $70.07. Altria Group Inc shares should encounter resistance at the 200-day moving average (MA) of $63.32 and support at the 50-day MA of $56.53.

Over the past year, Altria Group Inc has traded in a range of $53.91 to $74.67 and closed yesterday at $58.50, 9% above that low. The 200-day and 50-day moving averages have moved 0.17% lower and 0.47% higher over the past week, respectively.

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.

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

Keywords: bullish am inside day candle altria group inc

Ticker(s): MO