Philip Morris International may rise to 124.60 - 126.70

Our pivot point stands at 113.7.

Our preference

As long as 113.7 is support look for 124.6.

Alternative scenario

The downside breakout of 113.7 would call for 110.1 and 108.

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 positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 114.3165 and 107.542).

Supports and resistances

128.9 **

126.7 *

124.6 **

122.3

117.89 (USD-last)

115.2

113.7 **

110.1 *

108 **

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