Philip Morris International may rise to 118.70 - 120.50

110.3 is our pivot point.

Our preference

The upside prevails as long as 110.3 is support.

Alternative scenario

The downside breakout of 110.3 would call for 107.4 and 105.6.

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 105.7285 and 103.2278).

Supports and resistances

122.2 **

120.5 *

118.7 **

117

113.36 (USD-last)

111.4

110.3 **

107.4 *

105.6 **

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