Stock of the Day: Philip Morris

Philip Morris is approaching a decisive moment on the chart, where two powerful technical formations overlap and prepare the ground for a major trading signal.

The first is a large Head and Shoulders pattern, clearly marked with yellow rectangles. Its neckline coincides with the lower boundary of a symmetric triangle pattern, outlined in red. This combination makes the current setup particularly important, as whichever way price breaks will likely set the tone for the long term.

If the price breaks below the neckline/lower red line, that would confirm the Head and Shoulders formation and activate a strong sell signal. It would be a classical reversal indication, pointing towards a deeper bearish leg.

On the other hand, if the price manages to break above the upper red line of the symmetric triangle, that would completely cancel the Head and Shoulders pattern, flipping the sentiment into bullish territory. Such a breakout would be a buy signal and open the door for fresh upside momentum.

In short, Philip Morris is sitting at the crossroads, and the next breakout will be critical.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-philip-morris-1