Altria Group, Inc.: analytical review


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 70.85
Take Profit 71.30, 71.75, 72.25
Stop Loss 70.30
Key Levels 68.75, 70.00, 70.80
Fundamental analysis

In the 3rd quarter of 2016 Altria Group reported in terms of earnings per share ($0.82) and profitability ($5.2 billion), which were higher than market expectations. In December 2016 Altria Group, together with Philip Morris International, have applied to use IQOS technology. If the application is confirmed by the FDA, the company Altria Group will have exclusive rights to sell products in the US. All these factors have allowed shares of Altria Group to grow by more than 7.3% since the release of quarterly report.
In the 4th quarter of 2016 analysts expect revenue growth of 1.6% YoY to 4.8 billion. The growth is possible due to the increase in sales of Malboro Slate Black & Mild, and also thanks to the rise in prices for cigarettes by 0.7 % last year.
Over the last week the stocks of Altria Group showed growth by 3.33% against the growth of the index S&P500 by 0.66%.
Key levels
By the last two weeks company's shares were rising and gained more than 4% in cost. On Monday, January 23, the instrument overcame and consolidated above the key resistance level of 70.00, which now serves as a support. Local resistance is at 70.80. Indicators reflect the to force of buyers.
Support levels: 70.00, 68.75.
Resistance levels: 70.80.
Trading tips
If the price consolidates above 70.80, then #MO quotations growth may continue. Stop-loss is should be set at the level of 70.30. Potential profit levels are 71.30, 71.75 and 72.25.

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