Philip Morris International may rise to 144.40 - 148.60

Our pivot point stands at 118.

Our preference

The upside prevails as long as 118 is support.

Alternative scenario

The downside breakout of 118 would call for 111.6 and 107.7.

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 above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 120.586 and 121.5712). Finally, Philip Morris International is trading above its upper Bollinger band (standing at 125.98).

Supports and resistances

152.7 **

148.6 *

144.4 **

140.3

131.41 (USD-last)

120.6

118 **

111.6 *

107.7 **

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