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<ul class="list-ic vertical">
 <li><span>1</span> <a>Philip Morris International stock price slid 0.88% in the last trading session and currently trades at $90.03.&nbsp;</a></li>
 <li><span>2</span> <a>Philip Morris International stock price suffered rejection from the 200-day EMA and slid down.&nbsp;&nbsp;</a></li>
 <li><span>3</span> <a>Philip Morris International Inc. disclosed quarterly results on Thursday, 19th October with mixed results against the analysts’ estimates.&nbsp;</a></li>
</ul>
<p>Philip Morris International Inc. (PM) stock price was down 0.80% on Wednesday and currently trades at $90.03. The price hovers near the immediate support of the $90 level. The consolidation near the recent support has been of over 30 intraday sessions.</p>
<p>Moreover, the Philip Morris stock’s daily chart shows that the stock price has been forming a descending triangle pattern. The stock price suffered multiple rejections from an upper trendline resistance and declined to form a descending triangle pattern.&nbsp;</p>
<p>Now, the most crucial level for the PM stock price on the downside is $90 which has been acting as a horizontal support for the price. The breakdown of this may trigger a long unwinding and the stock price may decline sharply.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-philip-morris-international-stock-s-quarterly-earnings-analysis-strong"><strong>Philip Morris International Stock’s Quarterly Earnings Analysis&nbsp;</strong></h2>
<p>Philip Morris International Inc. reported its third quarterly results on Thursday, 19th October. Net revenues of $9.14 Billion saw an increase of 9.3% on a yearly basis. The tobacco company (Philip Morris) reported adjusted earnings per share of $1.67 with a jump of 20.3% on a yearly basis.&nbsp;<br><br>The earnings were reported as $1.67 Billion against $1.615 Billion as the expectations of the Wall Street analysts. The earnings surprised the analysts by 3.38%. However, the revenues missed the estimates by $0.79.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-philip-morris-international-stock-price-forms-declining-channel-pattern-strong"><strong>Philip Morris International Stock Price Forms Declining Channel Pattern</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1600" height="747" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-740.png" alt="Philip Morris International Stock Slumps: Hold More Or Exit Now?&nbsp;" class="wp-image-178191" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-740.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-740-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-740-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-740-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-740-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-740-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-740-1140x532.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: Philip Morris International&nbsp; 1D. NYSE By TradingView
  </figcaption>
 </figure>
</div>
<p>Currently, the Philip Morris International share price hovers near the support of the descending triangle pattern. The price consolidates near the recent support indicating that the bulls are unable to lift the price to the higher levels.<br><br>The price trend may remain neutral until the price is maintained in the range. The breakdown may trigger a long unwinding among the buyers and the price may decline to the lower levels.<br><br>Moreover, for the price trend to turn optimistic, the bulls need to surge the price above the key EMAs. The bulls need to accumulate enough buying volume to counter the ongoing trend and break above the upper trendline resistance.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-technical-indicators-show-bearish-outlook-strong"><strong>Technical Indicators Show Bearish Outlook&nbsp;&nbsp;</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1600" height="747" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-741.png" alt="Philip Morris International Stock Slumps: Hold More Or Exit Now?&nbsp;" class="wp-image-178192" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-741.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-741-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-741-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-741-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-741-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-741-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-741-1140x532.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: Philip Morris International&nbsp; 1D. NYSE By TradingView&nbsp;
  </figcaption>
 </figure>
</div>
<p>The overall technical opinion rating including RSI and MACD signals a 90% “sell” with the strongest short-term outlook on maintaining the current direction.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p><a href="https://www.thecoinrepublic.com/2023/09/18/pm-stock-price-analysis-philip-morris-stock-preparing-for-a-blast/" target="_blank" rel="noopener noreferrer nofollow">Philip Morris stock</a> price hovers in a descending triangle pattern and near the $90 support. The price may fall sharply if it breaks the support.&nbsp;</p>
<p>The company also reported higher earnings and revenues than last year but missed the revenue estimates. The earnings beat the estimates by 3.38%. The price needs to cross the EMAs and the upper trendline to turn bullish. The price has been consolidating for over 30 sessions.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support levels:</strong> $90.03 and $86.52</li>
 <li><strong>Resistance levels:</strong> $94.34 and $100.23</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss</p>

Philip Morris International Stock Slumps: Hold More Or Exit Now?

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