Philip Morris International may rise to 126.50 - 128.70

116.8 is our pivot point.

Our preference

As long as 116.8 is support look for 126.5.

Alternative scenario

The downside breakout of 116.8 would call for 113.4 and 111.2.

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 trading above both its 20 and 50 day moving average (respectively at 117.0085 and 109.4154).

Supports and resistances

130.7 **

128.7 *

126.5 **

124.5

120.15 (USD-last)

118.1

116.8 **

113.4 *

111.2 **

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