Million

Resistance

Reversal

<ul class="list-ic vertical">
 <li><span>1</span> <a>PM stock price flipped from the demand zone of $87 in the last session.</a></li>
 <li><span>2</span> <a>Buyers have succeeded in holding the gains and showed a bounce.</a></li>
</ul>
<p>Phillips Morris International Inc. (NYSE: PM) PM stock price noted a false breakdown near $90 and showed a sharp reversal in the last trading session. Moreover, the price action showcases a reversal. Furthermore, the PM stock slipped below the significant moving averages, highlighting bearishness. Amid the mixed set of results in the Q3, PM stock reacted adversely. Moreover, the chart indicates that PM stock is in the bearish trajectory and did not showcase any bullish intent. However, the bulls managed the gains and held the lower neckline of $89.</p>
<p>In the last session, PM stock showcased a massive bearish marubozu candlestick and broke down below the support zone of $90. Afterward, instead of follow-on selling, PM share retained the zone. Per the options chain, at the strike price of $90, open interest of 244 hundred shares on the call side, whereas 189 hundred shares on the put side (Nasdaq).</p>
<p>PM stock price is trading at $89.39 with an intraday gain of 2.20% showing neutrality on the charts (press time). Trading volume increased by 0.24% to 3.90 Million while the market cap is $138.77 Billion. However, analysts maintained a buy rating with a yearly target price of $110.69 suggesting a growth outlook.</p>
<p>Philip Morris International, Inc. is a holding company, which engages in the manufacture and sale of cigarettes and smoke-free products, including heat-not-burn, e-vapor, and oral nicotine products. The company is working to deliver a smoke-free future and to evolve its portfolio for the long term to include products outside of the tobacco and nicotine sector. It develops scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. The company was founded by Philip Morris in 1847 and is headquartered in Stamford, CT.</p>
<h2 class="wp-block-heading" id="strong-will-pm-stock-sustain-near-90-strong"><strong>Will PM Stock Sustain Near $90?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/JvAth7A157UjsAhH0gJqfOWPTNRtYxsaAzGu3ECGxIl1RzVeQw8YF-69NqPE8oqdve9Zo_jaePSC49WTYB0T_1gE4eauEkOvjuYgyHG8_z3tDnEmtgeq3IojCjlNnk1FF4RO2rk1tA4rOYmCWsRVerg" alt="PM Stock (NYSE: PM) Shows False Breakdown, Will Reversal Sustain?">
  <figcaption class="wp-element-caption"><a href="https://www.tradingview.com/chart/vVtQEsVt/?symbol=NYSE%3APM" rel="noopener noreferrer nofollow">PM Stock Price Chart by TradingView</a>
  </figcaption>
 </figure>
</div>
<p>On the daily charts, PM stock price is in a downtrend and has persisted in making lower lows. PM share price is trading in the bearish trajectory and is hovering near the demand zone of $90. The stock is trading close to the 23.6% Fibonacci retracement zone and is near the lower bollinger band.</p>
<p>The RSI curve stayed in the oversold region and is highlighting seller dominance on the charts. The MACD shows a bearish crossover and red bars on the histogram suggesting a negative outlook.</p>
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4>
<p><a href="https://www.thecoinrepublic.com/2023/09/18/pm-stock-price-analysis-philip-morris-stock-preparing-for-a-blast/" rel="noopener noreferrer nofollow">PM stock price</a> is trading below the significant moving averages and is close to the demand zone of $90. The price action delivered the short buildup activity and persisted in a downtrend. If PM stock price sustains at $90, buyers will accumulate and a reversal will be anticipated in the next sessions.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Levels: $85 and $80</p>
<p>Resistance Levels: $90 and $95</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

PM Stock (NYSE: PM) Shows False Breakdown, Will Reversal Sustain?

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Thecoinrepublic.com

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