Sin is In with Altria (NYSE: MO)
Mar 5th, 2009 | By Charles Delvalle | Category: Chart of the DayAltria Group (NYSE: MO) is one of those companies that people love to hate. Considering Altria sells cigarettes, it is understandable. But Altria stock is making big moves and gives you a good chance to profit and collect a tidy dividend.
By taking a look at Altria’s chart, you’ll notice a recent support line that was formed around $14 per share. This support line held up perfectly despite the sell-off.
Also, the Slow Stochastic (bottom of the chart) and RSI (top of the chart) both hit oversold levels and are showing a bounce towards overbought levels. As these indicators move to overbought, we should see Altria’s share price move even higher.
Your target should be its January highs ($17.50 a share) – a nearly 10% gain.
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Charles Delvalle is a self-taught market-timing professional and value analyst who's followed and invested in the market for the past ten years. He uses a unique combination of technical and fundamental research to pinpoint rapid profit opportunities with stocks and options.
Charles is also a staunch contrarian and takes pride in finding undervalued sectors and discovering undervalued, cash-rich companies. He frequently mocks government stupidities and points out the "inaccuracies (or lies, take your pick) that government reporting frequently dispels as "truth".
