Nov. 13 at 1:03 AM
$MO is currently trading at
$58.56, below its 30-day moving average (MA30) of
$62.63 and 50-day moving average (MA50) of
$63.81, indicating a bearish trend. The RSI of 25.45 suggests that the stock is oversold, which may signal a potential reversal. However, the price is also close to the 60-day low of
$56.18, indicating strong support at this level.
Market context shows a downward trend, but the oversold RSI could lead to a short-term bounce. Suggested entry point is at
$58.75, slightly above the last close to confirm momentum. Set a stop loss at
$56.00 to limit downside risk.
For targets, consider
$60.00 as the first target, aligning with psychological resistance, and
$62.00 as the second target, near the MA30. This plan allows for a potential recovery while managing risk effectively.
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