Altria Group (MO), the company formerly known as the Philip Morris Companies Inc., has arrived at price channel support on the hourly candles and 5-minute candles charts. As technical analysis is generally agnostic with regard to company fundamentals and product, this blog shares this development despite what many consider to be the company's deplorable industry (cigarettes, addiction, premature death: take your pick).
That said, MO's steep sell-off over the past two sessions, occurring on high volume, is certainly a cautionary signal. Many consider distribution days as dark omens, but not necessarily as signals of imminent breakdown.
 |
| MO. Dec 5, 2011 to present. Hourly candles. |
 |
| MO. July 25 to present. 5-minute candles. |
No comments:
Post a Comment