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Uptrend ExhaustionArchive
- 5/10/2024 -
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Phillip Morris International Inc. (PM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fourth consecutive positive week for the Phillip Morris International Inc. (PM). During the week, the PM gained 2.26 points, or 2.32%, and closed at 99.66 on Friday, May 10, 2024. Weekly volume was -8% below 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 downtrend resistance line (66.81) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. PM may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See PM medium-term trend chart]
A medium-term uptrend had started on April 15, 2024 at 87.82 and reached 99.98 on May 10, 2024. PM gained -12.16 points, or -13.85%, in 3 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See PM weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since April 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
Short-term trend: [See PM short-term trend chart]
A short-term uptrend had started on April 30, 2024 at 94.42 and reached 99.98 on May 10, 2024. PM gained -5.56 points, or -5.89%, in 10 days. The price is now at the 5.76% retracement level.
Daily Technical Indicators: [See PM daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since April 17, 2024. This is an indication that the short-term trend is up.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
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