PHILIP MORRIS INTERNATIONAL (NYSE:PM) - A Strong Technical Setup in a Leading Tobacco Stock

PHILIP MORRIS INTERNATIONAL (NYSE:PM) has been identified as a potential breakout candidate by our technical screening tools. The stock combines a high technical rating with a strong setup pattern, suggesting it may be well-positioned for further gains.

Technical Strength

• Rating of 8/10: PM scores well above average in technical health, indicating a favorable trend. The long-term trend remains positive, while the short-term trend is neutral.
• Relative Strength: Over the past year, PM has outperformed 89% of stocks, with consistent gains spread across the period.
• Industry Leadership: The stock ranks in the top tier of the tobacco industry, beating 71% of peers.
• Price Near 52-Week High: Currently trading close to its yearly high, PM shows resilience alongside broader market strength.

Setup Quality

• Rating of 9/10: The stock exhibits a tight consolidation pattern, with reduced volatility and clear support/resistance levels.
• Support Zone: A well-defined support area exists between $175.37 and $180.87, providing a potential stop-loss level.
• Resistance Breakout Point: A move above $182.75 could signal a breakout, with further upside potential.
• Recent Pocket Pivot: A bullish volume pattern was recently observed, adding to the positive setup.

For traders considering this setup, a breakout above $184.97 could serve as an entry point, with support near $175.36 acting as a logical exit if the trade reverses. The risk/reward ratio appears balanced, with a potential loss of 5.2% if stopped out.

More technical breakout opportunities can be found in our Technical Breakout Setups screener.

Disclaimer

This is not investment advice. Always conduct your own analysis and consider risk management before making trading decisions.