Altria may rise to 52.10 - 52.90

Our pivot point is at 47.6.

Our preference

The upside prevails as long as 47.6 is support.

Alternative scenario

The downside breakout of 47.6 would call for 46.2 and 45.4.

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 47.391 and 46.481).

Supports and resistances

53.8 **

52.9 *

52.1 **

51.2

49.42 (USD-last)

48.2

47.6 **

46.2 *

45.4 **

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