Is Philip Morris Expecting Resistance Soon?

New York, May 17th ( - Philip Morris International Inc. (NYSE:PM) ended the trading session at $85.24, near its 50 day moving average set at $87.20. Philip Morris' price action placed the stock below this important level, which makes it difficult to be bought, as the stock will certainly face resistance as it approaches its 50 day moving average.

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.

The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $84.55 and resistance at $91.05. These levels will be closely monitored, as they provide great insight into the latest price dynamics.

If traders want to establish a position in Philip Morris, given the resistance expected as the stock approaches its 50 day moving average, a trade might materialize as the stock manages to break this important technical level. After the breakout, the 50 day moving average could be used as support going forward. However, until the break materializes, buying the stock is basically a gamble with 50-50 chance.

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:


      Technical Scans

      Recent Trading Ideas

      Latest Partner Headlines

      Stock Market

      o Dow Jones 17,648.93 ▼101.98 (-0.57%)
      o S&P 500 2,050.91 ▼12.46 (-0.60%)
      o NASDAQ 4,727.01 ▼36.22 (-0.76%)

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:17,648.93 Trade time:3:16PM EDT Value change:▼101.98 (-0.57%)

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:2,050.91 Trade time:3:16PM EDT Value change:▼12.46 (-0.60%)


      Company ID [INDEXNASDAQ:.IXIC] Last trade:4,727.01 Trade time:3:16PM EDT Value change:▼36.22 (-0.76%)

      In The Wires

      Copyright © 2013 All Rights Reserved.