Altria may rise to 52.50 - 53.30

Our pivot point stands at 47.9.

Our preference

The upside prevails as long as 47.9 is support.

Alternative scenario

The downside breakout of 47.9 would call for 46.4 and 45.6.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (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 46.7235 and 46.0882). Finally, Altria is trading above its upper Bollinger band (standing at 49.07).

Supports and resistances

54.2 **

53.3 *

52.5 **

51.6

49.33 (USD-last)

48.4

47.9 **

46.4 *

45.6 **

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