CFD Trading – Sell Phillip Morris Intl (PM.NYS) @ $76.40. Stop @ $77.90 and Target @ $73.30

Phillip Morris International Inc.  Stock Code PM.NYS

Recently, price twice broke above the cloud but was unable to sustain above the cloud. Last Friday, price broke below the cloud, which could be the beginning of a correction lower to the support at $73.28. Conversion and Base lines are still bullish. Lagging Span is above price of 26 days ago and inside the cloud at the moment. Lagging Span is unable to confirm the bearish trend. MACD is bullish and but a bearish crossover was seen. MACD is moving lower, which could be the start of a bearish price trend. We think price is likely to move lower towards the support level at $73.28.

$76.40               Trading Sell
$73.30                Price Target
$77.90                Risk Management Stop
2 weeks              Trade Duration

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