Altria may rise to 47.80 - 48.30

Our pivot point stands at 45.2.

Our preference

The upside prevails as long as 45.2 is support.

Alternative scenario

Below 45.2, expect 44.4 and 43.9.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 44.198 and 43.289).

Supports and resistances

48.8 **

48.3 *

47.8 **

47.3

46.08 (USD-last)

45.6

45.2 **

44.4 *

43.9 **

Number of asterisks represents the strength of support and resistance levels.