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Construction & Engineering Industry Stocks Technical Analysis - MOArchive
- 4/5/2024 -
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Altria Group, Inc. (MO) Technical Analysis
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| Summary:
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| | It was the negative week for the Altria Group, Inc. (MO). During the week, the MO dropped -1.97 points, or -4.52%, and closed at 41.65 on Friday, April 5, 2024. It was the worst weekly loss since October 27, 2023. Weekly volume was 48% above average.
 Long-term trend: [See MO long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 57.05 and reached 39.07 on October 26, 2023. MO lost 17.98 points, or 31.52%, in 79 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 38.55 and resistance is at 42.89. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.
 Medium-term trend: [See MO medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 39.07 and reached 45.00 on March 21, 2024. MO gained -5.93 points, or -15.18%, in 21 weeks. The price is now at the 56.49% retracement level.
 Weekly Technical Indicators: [See MO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 29, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See MO short-term trend chart]
A short-term uptrend had started on March 4, 2024 at 39.25 and reached 45.00 on March 21, 2024. MO gained -5.75 points, or -14.65%, in 17 days. The chart has formed a Symmetric Triangle chart pattern.
 Daily Technical Indicators: [See MO daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. 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 25, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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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