Hello Sean could you give me your thoughts on MO, their financials and technical charts? Thank you.
From a technical perspective, there are all sorts of negative signs. It's formed and completed (emphasized by the red arcs and the yellow neckline being broken). That tends to be a top/trend reversal pattern. Also, the price is below the 50- and 200-week moving average. The 50-week moving average is curling downward. It's below the black zone of support of $57-$58 per share (as it currently trades around $55ish). It's selling volume is spiking higher. And its RSI and MACD have been slumping downward for a while now. So aside from not being a fan of a cigarette company...it's technicals right now are horrible.
It wouldn't surprise me if it drops into the $20-$40 area over time.
Thanks for your insight.
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