• Return to Headlines

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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Altria Group Inc (NYSE:MO) based on the price action in the company's shares. Today's price range of $46.09 and $46.33 is within yesterday'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. Owners of Altria Group Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

Over the past year, Altria Group Inc has traded in a range of $39.30 to $66.04 and is now at $46.18, 17% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Altria Group Inc (NYSE:MO) has potential upside of 51.8% based on a current price of $46.18 and analysts' consensus price target of $70.07. The stock should hit resistance at its 200-day moving average (MA) of $49.17, as well as support at its 50-day MA of $43.41.

SmarTrend is tracking the current trend status for Altria Group Inc and will alert subscribers who have MO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle altria group inc

Ticker(s): MO