If you zoom out to the monthly timeframe you’ll notice Altria Group has been struggling for the past 3 years, only this year has it started to pick up.
Altria forecast full-year adjusted earnings per share of between $4.56 and $4.62.
Which is a bit below Wall Street's forecast for $4.60.
For the second quarter, Altria earned $1.23, up 12.8%.
Sales grew 8.9% to $6.936 billion.
Altria has faced questions about cigarette demand amid rising health consciousness. While customers clung to their smoking habits last year amid the stress of the coronavirus pandemic, struggles continue at vaping startup Juul which received a big investment from Altria.
However, Altria's efforts to become less of a traditional cigarette company have hit a snag. The company said Philip Morris USA, which it owns, had delayed further expansion of its Iqos and Marlboro HeatStick heat-not-burn tobacco products.
Altria cited the "uncertainty" stemming from a patent infringement case as the reason.
But as we turn to the technical analysis, $MO has formed a symmetrical triangle that looks ready to break on the daily.
We also have the MACD above 50 and the RSI looking bullish.
Before getting in this trade, wait for the break to the upside or downside.
Keep this on your watchlist!
Altria forecast full-year adjusted earnings per share of between $4.56 and $4.62.
Which is a bit below Wall Street's forecast for $4.60.
For the second quarter, Altria earned $1.23, up 12.8%.
Sales grew 8.9% to $6.936 billion.
Altria has faced questions about cigarette demand amid rising health consciousness. While customers clung to their smoking habits last year amid the stress of the coronavirus pandemic, struggles continue at vaping startup Juul which received a big investment from Altria.
However, Altria's efforts to become less of a traditional cigarette company have hit a snag. The company said Philip Morris USA, which it owns, had delayed further expansion of its Iqos and Marlboro HeatStick heat-not-burn tobacco products.
Altria cited the "uncertainty" stemming from a patent infringement case as the reason.
But as we turn to the technical analysis, $MO has formed a symmetrical triangle that looks ready to break on the daily.
We also have the MACD above 50 and the RSI looking bullish.
Before getting in this trade, wait for the break to the upside or downside.
Keep this on your watchlist!