After Yesterday's Rally of 2.32% Shares Could Potentially Pullback
Altria Group (NYSE:MO) traded in a range yesterday that spanned from a low of $65.07 to a high of $67.98. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $66.75 on volume of 7.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Altria Group has traded in a range of $47.31 to $67.98 and is now at $67.71, 43% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.
SmarTrend recommended that subscribers consider buying shares of Altria Group on April 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.69. Since that recommendation, shares of Altria Group have risen 5.8%. We continue to monitor MO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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