Altria may rise to 53.90 - 55.00

Our pivot point stands at 47.7.

Our preference

As long as 47.7 is support look for 53.9.

Alternative scenario

The downside breakout of 47.7 would call for 46 and 44.9.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 49.053 and 47.1568).

Supports and resistances

56 **

55 *

53.9 **

52.9

49.35 (USD-last)

48.3

47.7 **

46 *

44.9 **

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