Altria Group ($MO) Pushing Higher with Cup & Handle Breakout
MO is showing strength after breaking out of a Cup & Handle pattern, aiming for a target near $70, a potential 27.8% upside.Cup & Handle Breakout – Recent breakout points to a target near $70, supporting a bullish outlook.
Channeling Upward – Moving within a strong ascending channel, providing structure for the uptrend.
SMA 150 Support – The 150-day SMA sits below, adding stability to the trend.
Volume and CCI – Volume at 1.28M shows solid interest, while the overbought CCI hints at potential short-term resistance.
Key Support – Strong support around $54.55, close to the 52-week high, reinforces a solid base.
If
MO holds its momentum within the channel, that $70 target could be within reach, although it may retest support at $54.55 first.
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