Trading stock is not easy and n this case you will have to try to catch the 61.8% retrace break. A daily close next week above 57.10 will open the upside test of 62 level. Look for this daily break to enter the trade.
- BBands look tight (low BBW) -> I expect volatility
- the middle band is holding nice so far
- that looks like an ascending triangle
- there is plenty of room for RSI to increase
All together I drew some meme target boxes and we'll see.
Idea came from @kkernttb
NYSE:MOS buy above yesterday's high of 62.67.
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Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Major Support via volume indicates this has some room to fall into a basket around $25-30. This looks bad for Bulls and really good for Bears. SHORT until obvious reversal pattern paints further down the line. Even a PUT option here or a Short Strangle if your nervous it could bounce out. Either would make a decent winning trade.
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.