Technical Signals Point to a Possible Breakout for ALTRIA GROUP INC.

We've identified ALTRIA GROUP INC (NYSE:MO) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:MO for further developments.

Technical analysis of NYSE:MO

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Taking everything into account, MO scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, MO has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, MO did better than 84% of all other stocks.
• MO is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so MO is leading the market.
• In the last month MO has a been trading in the 47.11 - 51.40 range, which is quite wide. It is currently trading near the high of this range.
• MO is an average performer in the Tobacco industry, it outperforms 55% of 10 stocks in the same industry.

Our latest full technical report of MO contains the most current technical analsysis.

How does the Setup look for NYSE:MO

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:MO currently has a 8 as setup rating:

MO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 50.09, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:MO

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.