New York, May 17th (TradersHuddle.com) - 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.
- Allstate, American Football Coaches Association Name 22 College Football Players to the 2013 Allstate AFCA Good Works Team®
- Allstate Named To 2013 Working Mother 100 Best Companies
- Allstate's Drivewise® Hits One Billion Miles Driven: Expansion Continues
- Allstate Publishes 2012 Corporate Responsibility Report, "Knowledge Applied"
- What Life Insurance Can Do For You
- Protect Your Stuff At School
- Allstate to Present at Barclays Global Financial Services Conference
- The Allstate Tom Joyner Family Reunion® is Set to Celebrate Family in Orlando Aug. 29 - Sept. 2
- Brownsville Remains Texas' Safest Driving City
- Visalia Leads All California Cities on 2013 "Allstate America's Best Drivers Report™"
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines