Altria may rise to 52.80 - 53.50

49.4 is our pivot point.

Our preference

The upside prevails as long as 49.4 is support.

Alternative scenario

Below 49.4, expect 48.3 and 47.7.

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 48.2865 and 46.8604).

Supports and resistances

54.2 **

53.5 *

52.8 **

52.2

50.55 (USD-last)

49.8

49.4 **

48.3 *

47.7 **

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