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Look for Shares of Altria Group to Potentially Rebound after Yesterday's 1.42% Sell Off

By Shiri Gupta

Altria Group (NYSE:MO) traded in a range yesterday that spanned from a low of $61.44 to a high of $62.30. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $62.29 on volume of 3.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Altria Group have traded between a low of $47.31 and a high of $70.14 and are now at $61.77, which is 31% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Altria Group on July 28th, 2016 by issuing a Downtrend alert when the shares were trading at $66.78. Since that call, shares of Altria Group have fallen 6.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders altria group

Ticker(s): MO