Good technical signals and a possible breakout for PHILIP MORRIS INTERNATIONAL.

PHILIP MORRIS INTERNATIONAL (NYSE:PM) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:PM.

Zooming in on the technicals.

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Taking everything into account, PM scores 7 out of 10 in our technical rating. Although PM is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that PM is one of the better performing stocks in the market, outperforming 79% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
• PM is part of the Tobacco industry. There are 9 other stocks in this industry, PM did better than 66% of them.
• PM is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.
• In the last month PM has a been trading in a tight range between 98.65 and 104.43.

Why is NYSE:PM a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:PM scores a 8 out of 10:

Besides having an excellent technical rating, PM also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 103.05. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 101.67, a Stop Loss order could be placed below this zone.

Trading breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Of course, there are many ways to trade or not trade NYSE:PM 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.

Our Breakout analyzer lists more breakout setups and is updated daily.