This analysis is only based on technical analysis. If you need fundamental analysis check out the last analysis of MO on my account.
- Target: $ 50.52
- MACD -> LONG
- RSI -> LONG
- Momentum -> LONG
- OBV -> LONG
- KST -> LONG
Today at the market open (Jan 8), the equity trading system Equity Trend will open a long position in Altria (ticker: MO)
Each day, the system scans around 10,000 stocks to find just 1 or 2 which are ready to move immediately.
The system combines elements of breakout trading, trend following and risk management from Turtle trading.
For those of you who have been patient enough to secure a low risk entry on MO, your patience has paid off.
As you can see MO has found support at the 76.4 fib retrace and a trendline that spans back to 2008. If the fib support holds here and proceeds upward, that gives us a target of around 100% - 123% fib zone.
The price action formation is also a bull flag on ...
Buy the Jan 17 47.5 Put and Short the Jan 17 52.5 Put (0.41 and 1.18 each right now)
Our goal is for price to remain above or equal to 52.5 by expiry (January 17th) so that our Anchor short gives us our premium.
Shares of MO have been under tremendous pressure since the FDA mentioned banning methol cigs/e-flavors, but don't let that fool you. This cash cow has plenty of firepower to withstand this minor hiccup and as shown on the chart, has fallen exactly to trend line support going back to 1969 (almost 50 years). This is a screaming buy!
I'm already long shares, ...
If any stock can do a fakeout, it's Altria. We've seen intense selling to where the RSI is no good. FDA pressure and fears of menthol bans accelerated the selling momentum. We broke down through the channel, furthering bear strength and then through a strong support slope. Yearly bottom of April has held. I'm seeing a bear flag, yet overlapped with a semblance of ...
Yesterday when the market went down upon open, I cut loss on $MO 1019C62 call (0.5 from 0.83) thinking without checking it will also drop with the market. It actually went up pretty well and closed at my original entry price. Today 10/5 it is still relatively strong.
Lesson is do not trade based I what I think - trade the charts and trends.