Philip Morris extremely overbought

35 0 5
Philip Morris ($PM) is showing some great short entry signals:

  • M bollinger bandpattern on decreasing RSI .
  • Second, slightly lower peak with decreasing volume .
  • Bearish engulfing candle with almost no lower wick means no buying pressure at the close.

Personal Strategy:

  • Given the bearish engulfing pattern, an immediate entry is acceptable.
  • Take some profits of table when price hits $110. If price breaks the $110 resistance, and continues down through the $109.35 mark, hold through to the $104.12 resistance.
  • If price does not continue down through either $110 or $109.35, exit entire position.
Trade active: Active in this trade. Used the initial buying spike today as an easy entry, since the bearish engulfing candle already signaled immediate entry.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out