Skipped through 88, next in line is 75 and then a comeback (PM)PM fell today after earnings report more than it really should. It passed through level 88 like butter and is trading lower at the time of writing. Next support is around 75.5, however I would look into buying it at 78 if it falls there.
In short earnings report beat PROFIT expectations, expected: 0.90$, was 1$; Revenue was also higher Y/Y by about 13%, however, and here is the reason everyone went bearish - this revenue was shorter for $100m. Bear in mind company expensed $80m in Q1 for a major ad campaign that will run though-out 2018 and had a small setback in Saudi Arabia. In my opinion, not a justified reason to drop by more than 15% in one single day and we should see it climb back up pretty soon.
