Altria Group, Inc., through its subsidiaries, manufactures and sells
cigarettes, smokeless products, and wine in the United States and
internationally. It offers cigarettes primarily under the Marlboro
brand; cigars principally under the Black & Mild brand; and moist
smokeless tobacco products under the Copenhagen, Skoal, Red Seal, Husky,
and Marlboro Snus brand names. The company also produces and sells
blended table wines under the Chateau Ste. Michelle, Columbia Crest, and
14 Hands names; and imports and markets Antinori and Villa Maria Estate
wines, as well as Champagne Nicolas Feuillatte in the United States. In
addition, it provides finance leasing services primarily in aircraft,
rail and surface transport, electric power, real estate, and
manufacturing industries. The company sells its tobacco products
primarily to wholesalers, including distributors; large retail
organizations, such as chain stores; and the armed services.
Take a look at the 1-year chart of Altria (NYSE: MO) below with my added notations:
MO has formed a clear resistance at $53 (red) over the last 2 months.
In addition, the stock has been climbing a short-term, trend line of
support (green) since the end of April. These two levels combined had MO
stuck within a common chart pattern known as an ascending triangle.
Eventually, the stock will have to break one of those levels.
The Tale of the Tape: MO is trading within an
ascending triangle. A long trade could be made at the trendline support
or on a break above $53. A break below trendline would be an opportunity
to enter a short trade.
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