Philip Morris Is Close to Resistance

New York, May 7th (TradersHuddle.com) - Shares of Philip Morris International Inc. (NYSE:PM) are trading very close to calculated resistance at $91.05. The stock ended the trading session at just $89.13, which is near levels that make it difficult to buy or start a position.

Philip Morris International Inc. (NYSE:PM) licensees, produces, and markets a wide range of branded cigarettes and tobacco products in markets outside of the United States of America. The portfolio include Marlboro, Merit, Parliament, and Virginia Slims.

Philip Morris' stock range is defined by its calculated support defined at $72.85 and by the resistance level at $91.05; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for Philip Morris. However, as the stock pulls back towards $72.85 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $91.05 then traders will get an opportunity to enter the stock as it moves to a higher range.



Related Articles

    Related Partner Headlines

      JIM CRAMER wants to work for YOU. JIM does the research -- YOU get email alerts each time he trades. JIM provides access to his actual portfolio -- YOU can use it to guide your portfolio strategy. Try Jim's Action Alerts PLUS for FREE!

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Technical Scans

      Recent Trading Ideas

      Latest Partner Headlines

      Stock Market

      Loading
      Chart
      o Dow Jones 17,646.85 ▼104.06 (-0.59%)
      o S&P 500 2,050.55 ▼12.82 (-0.62%)
      o NASDAQ 4,726.56 ▼36.66 (-0.77%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:17,646.85 Trade time:3:17PM EDT Value change:▼104.06 (-0.59%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:2,050.55 Trade time:3:17PM EDT Value change:▼12.82 (-0.62%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:4,726.56 Trade time:3:17PM EDT Value change:▼36.66 (-0.77%)

      In The Wires

      Copyright © 2013 TradersHuddle.com. All Rights Reserved.