Altria Group: Buy PotentialRetesting the monthly key area and daily time frame Ichimoku cloud successfully, I'm expecting the upside momentum to continue.
Altriagroup
MO Altria Group possible A=C plus bear flag Let's discuss it.Hi ,
Well, first of all, it's important to note that I have an open position in this dividend-paying stock because I want to hold it for the long term.
However, we should not ignore the fact that we will start wave C of a possible ABC correction soon. We can also see a bear flag shape. Both have a price target of ~$14 to $15.
Regarding the fundamentals, some important things:
Traditional tobacco companies have to face the fact that their products are becoming more and more expensive, thus many people buy cheaper products.
Vapor and liquid alternatives are increasingly popular among the younger generation. Because they are fragrant, tasty and cheaper.
Although these companies have made a lot of profit in the past decades, they are now facing another challenge. If they want to stay competitive, they have to develop to catch up with their competitors who produce products based on new technologies.
Altria Group is constantly working to achieve this. However, the transformation of the production technology and the necessary permits (e.g. FDA) are essential for its success. It's all money and time.
All in all, I think that stocks of traditional tobacco companies are still a good long-term investment. However, it should be taken into account that they may underperform in the coming months. And they can hit new lows.
That's why I didn't use all my resources that I intended for this stock. Because if we actually reach the ~$15 zone, then I want to significantly increase my position size there.
Please tell me what you think about it. And share your thoughts.
Do not forget. This does not constitute investment advice. Do your own research before entering a position.
Altria: Loping 👟After a longer downwards stage, Altria is loping upwards with more drive again. The share should keep up this momentum, as we still expect it to reach the compound consisting of the turquoise zone between $50.29 and $52.07 and the magenta zone between $50.67 and $53.47. There, Altria should finish wave B in turquoise and turn southwards again, making its way below the support at $40.35 to complete wave (B) in magenta. However, there is a 40% chance that the share might not be able to tap the northern zone-compound. In that case, wave alt.B in turquoise would be concluded already and Altria would directly drop below $40.35.
Altria: You Can Get It If You Really Want 💪You can get it if you really want,
You can get it if you really want,
You can get it if you really want,
But you must try, try and try,
Try and try, you′ll succeed at last.
Altria should take the lyrics of this famous rocksteady song by Jimmy Cliff to heart and continue trying to reach the compound consisting of the turquoise zone between $50.29 and $52.07 and the magenta-colored zone between $50.67 and $53.47. The share can then use either of both zones to complete wave B in turquoise before turning downwards again, resuming the descent below the support at $40.35 to develop wave C in turquoise. There is a 35% chance, though, for Altria to start the downwards movement below $40.35 earlier. In that case, the share would have finished wave alt.B in turquoise by now, would ignore the zone-compound on the upper side and thus deploy wave alt.C in turquoise directly.
Altria (MO) | Retesting The Breakout Area!Hi,
Since the end of 2020, Altria has started to show its strength by giving us a higher low. Since then it managed to push above the long-lasting downwards trendline which started from ATH at the beginning of 2017. Made a quite solid breakout with a strong and powerful candle as needed. To be said, if it is a strong trendline then it needs a lot of power to push through it and it got it.
The break smashed a couple of good criteria: managed to push above the downwards trendline, managed to break above the 50EMA, managed to break above mid-number $50, and managed to make a now and strong mid-term higher high! Quite impressive!
After the perfect trendline retest, it created another higher low and pushed into new HH above $50 and above a strong horizontal area.
Ńow, it has started to approach another retest and the price of Altria has reached inside a possible buying area.
Technically it would be a great investment which is supported by 50EMA, strong horizontal area, mid-number $50, minor trendline, and historically a strong horizontal price zone around $50.
Do your own research and if it matches with my TA you are ready to go.
Regards,
Vaido
