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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Phillip Morris International Inc. (PM) Technical Analysis
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| Summary:
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| | It was the negative week for the Phillip Morris International Inc. (PM). During the week, the PM dropped -2.14 points, or -2.34%, and closed at 89.48 on Friday, April 5, 2024. Weekly volume was 23% above average.
 Long-term trend: [See PM long-term trend chart]
A long-term downtrend had started on February 18, 2022 at 112.48 and reached 82.85 on September 30, 2022. PM lost 29.63 points, or 26.34%, in 32 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 67.80 and resistance is at 97.25. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See PM medium-term trend chart]
A medium-term uptrend had started on February 8, 2024 at 88.30 and reached 95.92 on March 19, 2024. PM gained -7.62 points, or -8.63%, in 5 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (89.76) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See PM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 8, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See PM short-term trend chart]
A short-term downtrend had started on March 19, 2024 at 95.92 and reached 88.96 on April 5, 2024. PM lost 6.96 points, or 7.26%, in 17 days. The price is now at the 7.47% retracement level.
 Daily Technical Indicators: [See PM daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 21, 2024. This is an indication that the short-term trend is down.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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