• Return to Headlines

Watch for Continued Gains in Shares of Philip Morris (PM)

By Shiri Gupta

Shares of Philip Morris (NYSE:PM) traded today at $123.55, breaking its 52-week high. Approximately 457,000 shares have changed hands today, as compared to an average 30-day volume of 4.1 million shares.

In the past 52 weeks, Philip Morris share prices have been bracketed by a low of $76.54 and a high of $123.55 and are now at $123.22, 61% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

Philip Morris (NYSE:PM) defies analysts with a current price ($123.22) 12.0% above its average consensus price target of $108.47. Philip Morris shares have support at the 50-day moving average (MA) of $97.46 and additional support at the 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's portfolio comprises both international and local brands.

SmarTrend recommended that subscribers consider buying shares of Philip Morris on May 23rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $116.85. Since that recommendation, shares of Philip Morris have risen 5.2%. We continue to monitor PM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows philip morris

Ticker(s): PM