Altria may rise to 55.60 - 56.60

50.4 is our pivot point.

Our preference

The upside prevails as long as 50.4 is support.

Alternative scenario

The downside breakout of 50.4 would call for 48.7 and 47.7.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 50.7215 and 48.5218).

Supports and resistances

57.7 **

56.6 *

55.6 **

54.5

52.44 (USD-last)

51.1

50.4 **

48.7 *

47.7 **

Number of asterisks represents the strength of support and resistance levels.