• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Philip Morris In (NYSE:PM)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Philip Morris In (NYSE:PM) based on the price action in the company's shares. Yesterday's price range of $71.31 and $72.43 is within the prior day'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. Traders and investors interested in shares of Philip Morris In may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Philip Morris International Inc. operates as a holding company. The Company, through its subsidiaries, licensees, produces, sells, distributes, and markets a wide range of branded cigarettes and tobacco products. Philip Morris International serves customers worldwide.

Philip Morris In share prices have moved between a 52-week high of $90.17 and a 52-week low of $56.01 and closed yesterday at 29% above that low price at $72.00 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.9% while the 200-day MA has slid 0.5%.

Philip Morris In (NYSE:PM) has potential upside of 44.1% based on a current price of $72.00 and analysts' consensus price target of $103.75. Philip Morris In shares should first meet resistance at the 50-day moving average (MA) of $74.37 and find additional resistance at the 200-day MA of $80.20.

SmarTrend is tracking the current trend status for Philip Morris In and will alert subscribers who have PM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle philip morris in

Ticker(s): PM