Altria Group Inc

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.



MO_121505.jpg




You May Also Like

Related Analysis
  1. Stock Analysis

    Barron's Recap: Is Now The Time To Sit On Cash?

  2. Stock Analysis

    Does It Still Make Sense To Buy IPG Shares?

  3. Stock Analysis

    Why Should You Invest In Stratasys Today?

  4. Stock Analysis

    What’s The Best Airline Stock In the Industry?

  5. Stock Analysis

    Why Is Enterprise Products Partners So Excited?

Trading Center