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Watch for Shares of Altria Group Inc (MO) to Approach Support at $50.78

By David Diaz

Altria Group Inc (NYSE:MO) has opened bearishly below the pivot of $51.16 today and has reached the first level of support at $50.91. Analysts will be watching for a cross of the next downside pivot targets of $50.78 and $50.40.

Potential upside of 37.0% exists for Altria Group Inc, based on a current level of $51.13 and analysts' average consensus price target of $70.07. The stock should discover initial support at its 50-day moving average (MA) of $49.64 and subsequent support at its 200-day MA of $48.46.

In the past 52 weeks, Altria Group Inc share prices have been bracketed by a low of $39.30 and a high of $57.88 and are now at $51.13, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Altria Group Inc on October 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.81. Since that recommendation, shares of Altria Group Inc have risen 16.6%. We continue to monitor MO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts altria group inc

Ticker(s): MO