ALTRIA GROUP INC is setting up nicely for a breakout.

Our stockscreener has identified a possible breakout setup on ALTRIA GROUP INC (NYSE:MO). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:MO for potential opportunities.

Technical Analysis Observations

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall MO gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MO is showing a nice and steady performance.

• 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 83% 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 47.57 - 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 66% of 10 stocks in the same industry.

Check the latest full technical report of MO for a complete technical analysis.

How does the Setup look for NYSE:MO

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:MO is 9:

Besides having an excellent technical rating, MO also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 51.20. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 50.52, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MO in the last couple of days, which is a good sign.

How to trade NYSE:MO?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NYSE:MO and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

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

Disclaimer

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.