PHM7 trade ideas
MO RSI Divergence ShortMO formed a bull flag in the last quarter of 2016 and has broken out to higher highs. The RSI has not followed and confirmed the price strength. The target for the bull flag is $74 price level.
Watch for confirmation of price action and RSI Divergence. We will then look to buy puts.
A watching point for MO's directionIt seems there are many channels, either horizontal or parrallel, for MO.
And each collosion of price and channel will show a direction of movement.
Whether MO can hold 66.10 or not is a crucial factor for short-term direction.
Is the reward worthy of taking risks? 5.17% to its recent hight.
MO - falling wedge breakoutThis looks like a falling wedge breakout. I would like some confirmation of the breakout today.
