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For today's chart we've chosen to take a look at Altria Group Inc (NYSE:MO) because it is trading near two significant support levels. As you can see from the chart below, the price is currently nearing a long-term trendline, which has been able to prop up the price since 2005. This is the main level of support level that traders will be watching because a close below will signal a shift in the prolonged uptrend.

We've also noticed that the bulls have prevented the price from moving below the short-term support that is equal to the June high of $71.90 (shown by the dotted line). We'll keep a bullish outlook on this stock until the bears send the price below the identified support levels. Today's close near the trendline offers an interesting risk/reward ratio and we'd expect bullish traders to cut their losses once the price slips below $71.75.


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