After Yesterday's Rally of 1.13% Shares Could Potentially Pullback
Philip Morris (NYSE:PM) traded in a range yesterday that spanned from a low of $101.00 to a high of $102.09. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $100.95 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Philip Morris share prices have moved between a 52-week high of $104.20 and a 52-week low of $76.54 and are now trading 33% above that low price at $101.63 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.
SmarTrend is tracking the current trend status for Philip Morris and will alert subscribers who have PM in their portfolio or watchlist when shares have changed trend direction.
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