Altria Group Inc

By root | December 14, 2005 AAA

Altria Group, the parent company of Philip Morris USA, was all over the news today after the Supreme Court ruled in the cigarette-maker's favor, reversing a $10-billion verdict. The much-anticipated news sent the price of the stock to an all-time high on extremely heavy volume. As you can see from the chart below, this move may prove influential over the short-term direction because it is now above a key area of resistance. The $75.50 level has proved to be a strong barrier over the past two months, but now that the price is above it, we'd expect it to be an area of support in the event of a pullback.

We've added the MACD indicator, which has crossed over its signal line. The cross that we've seen today is due to the large spike in price, which does not make this the best signal but it can be used to predict further upward momentum.



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