Altria Stock Forecast
Green day on Wednesday for Altria
(Updated on Apr 24, 2024)
The Altria stock price gained 0.117% on the last trading day (Wednesday, 24th Apr 2024), rising from $42.87 to $42.92. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.54% from a day low at $42.40 to a day high of $43.06. The price has risen in 6 of the last 10 days and is up by 2.98% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 11 million shares were bought and sold for approximately $478.43 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 middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.83% during the next 3 months and, with a 90% probability hold a price between $43.38 and $48.56 at the end of this 3-month period.
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MO Signals & Forecast
Mostly positive signals in the chart today. The Altria stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $41.94 and $42.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Altria stock
Altria finds support from accumulated volume at $41.72 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.655 (1.54%) between high and low. For the last week, the stock has had daily average volatility of 1.47%.
Since the Altria has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $41.35 (-3.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (MO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Altria Group to open at $42.79, and during the day (based on 14 day Average True Range), to move between $42.29 and $43.55, which gives a possible trading interval of +/-$0.629 (+/-1.46%) up or down from last closing price. If Altria Group takes out the full calculated possible swing range there will be an estimated 2.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $42.98 (0.14%) than the support at $41.72 (2.80%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Altria stock to perform well in the short-term.
Current score: 1.866 Buy Candidate Unchanged
Predicted Opening Price for Altria Group of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $42.79 ( 0.299%) | $42.92 |
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 | 43.45 | 1.23 % | |
| R2 | 43.20 | 0.644 % | ||
| R1 | 43.04 | 0.284 % | ||
| Current price: | 42.92 | |||
| Support | S1 | 42.54 | -0.88 % | |
| S2 | 42.39 | -1.24 % | ||
| S3 | 42.14 | -1.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.51 | 3.70 % | |
| R2 | 44.28 | 3.17 % | ||
| R1 | 42.98 | 0.140 % | ||
| Current price | 42.92 | |||
| Support | S1 | 41.72 | -2.80% | |
| S2 | 41.45 | -3.42% | ||
| S3 | 39.73 | -7.43% |
MO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Apr 30, 2024 | $0.98 | 2.28% |
| 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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