Altria Group Inc (NYSE:MO) has opened bearishly below the pivot of $48.63 today and has reached the first level of support at $48.28. Should the shares continue to fall, the support pivots of $47.79 and $46.95 will be of interest.
In the past 52 weeks, Altria Group Inc share prices have been bracketed by a low of $42.40 and a high of $66.04 and are now at $47.85, 13% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.9%.
Potential upside of 46.4% exists for Altria Group Inc, based on a current level of $47.85 and analysts’ average consensus price target of $70.07. Altria Group Inc shares should first meet resistance at the 50-day moving average (MA) of $52.00 and find additional resistance at the 200-day MA of $54.53.
SmarTrend recommended that its subscribers protect gains by selling shares of Altria Group Inc on April 5th, 2019 by issuing a Downtrend alert when the shares were trading at $54.47. Since that call, shares of Altria Group Inc have fallen 10.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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