Tuesday, April 14, 2015

Philip Morris International (NYSE: PM)

While most cigarette stocks had a successful 2014 on the charts, the sector behemoth by market capitalization -- Philip Morris International (NYSE: PM), weighing in at $120 billion -- headed mostly south. Through its April 1 low, it shed 18% from its June 2014 peak above $91.

The good news is that PM reached long-term support from its 2013 low and, arguably, the bottom of a giant trading range originating in early 2012. The question for traders is whether this support will hold, and there are many reasons why I think it will. (more)

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