Altria Stock Forecast
Evaluation of Altria stock downgraded after the last trading session.
(Updated on Apr 17, 2024)
The Altria stock price gained 0.86% on the last trading day (Wednesday, 17th Apr 2024), rising from $40.75 to $41.10. During the last trading day the stock fluctuated 1.18% from a day low at $40.74 to a day high of $41.22. The price has fallen in 6 of the last 10 days and is down by -2.42% for this period. Volume fell on the last day by -1 thousand shares and in total, 8 million shares were bought and sold for approximately $348.30 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $40.79 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.44% during the next 3 months and, with a 90% probability hold a price between $43.42 and $48.70 at the end of this 3-month period.
MO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.86%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Altria stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $41.30 and $42.36. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Altria stock
Altria finds support from accumulated volume at $40.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.480 between high and low, or 1.18%. For the last week, the stock has had daily average volatility of 1.33%.
Altria is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MO) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Altria Group to open at $41.02, and during the day (based on 14 day Average True Range), to move between $40.48 and $41.72, which gives a possible trading interval of +/-$0.624 (+/-1.52%) up or down from last closing price. If Altria Group takes out the full calculated possible swing range there will be an estimated 3.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.45 (0.85%) than the support at $40.44 (1.61%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Altria will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.15. We will update the financials statements for Altria, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.10% in the first trading day after earnings release.
Is Altria Group stock A Buy?
The Altria stock holds several negative signals and despite the positive trend, we believe Altria will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.157 Sell Candidate Downgraded
Predicted Opening Price for Altria Group of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $41.02 ( 0.195%) | $41.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.50 | 0.97 % | |
| R2 | 41.32 | 0.527 % | ||
| R1 | 41.20 | 0.251 % | ||
| Current price: | 41.10 | |||
| Support | S1 | 40.84 | -0.641 % | |
| S2 | 40.72 | -0.92 % | ||
| S3 | 40.54 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.51 | 8.30 % | |
| R2 | 44.28 | 7.74 % | ||
| R1 | 41.45 | 0.85 % | ||
| Current price | 41.10 | |||
| Support | S1 | 40.44 | -1.61% | |
| S2 | 40.09 | -2.46% | ||
| S3 | 39.73 | -3.33% |
MO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Apr 30, 2024 | $0.98 | 2.38% |
| 2 | Dec 06, 2023 | Dec 20, 2023 | Jan 10, 2024 | $0.98 | 2.39% |
| 3 | Aug 24, 2023 | Sep 14, 2023 | Oct 10, 2023 | $0.98 | 2.31% |
| 4 | May 18, 2023 | Jun 14, 2023 | Jul 10, 2023 | $0.94 | 2.09% |
| 5 | Mar 01, 2023 | Mar 23, 2023 | Apr 28, 2023 | $0.94 | 1.98% |
FAQ
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