Philip Morris International may rise to 124.50 - 126.30

Our pivot point stands at 112.9.

Our preference

The upside prevails as long as 112.9 is support.

Alternative scenario

The downside breakout of 112.9 would call for 109.9 and 108.1.

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 positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 109.3175 and 104.801).

Supports and resistances

128.1 **

126.3 *

124.5 **

122.8

117.82 (USD-last)

114

112.9 **

109.9 *

108.1 **

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