Altria (MO) | Retesting The Breakout Area!
Hi,
Since the end of 2020, Altria has started to show its strength by giving us a higher low. Since then it managed to push above the long-lasting downwards trendline which started from ATH at the beginning of 2017. Made a quite solid breakout with a strong and powerful candle as needed. To be said, if it is a strong trendline then it needs a lot of power to push through it and it got it.
The break smashed a couple of good criteria: managed to push above the downwards trendline, managed to break above the 50EMA, managed to break above mid-number $50, and managed to make a now and strong mid-term higher high! Quite impressive!
After the perfect trendline retest, it created another higher low and pushed into new HH above $50 and above a strong horizontal area.
Ńow, it has started to approach another retest and the price of Altria has reached inside a possible buying area.
Technically it would be a great investment which is supported by 50EMA, strong horizontal area, mid-number $50, minor trendline, and historically a strong horizontal price zone around $50.
Do your own research and if it matches with my TA you are ready to go.
Regards,
Vaido
Since the end of 2020, Altria has started to show its strength by giving us a higher low. Since then it managed to push above the long-lasting downwards trendline which started from ATH at the beginning of 2017. Made a quite solid breakout with a strong and powerful candle as needed. To be said, if it is a strong trendline then it needs a lot of power to push through it and it got it.
The break smashed a couple of good criteria: managed to push above the downwards trendline, managed to break above the 50EMA, managed to break above mid-number $50, and managed to make a now and strong mid-term higher high! Quite impressive!
After the perfect trendline retest, it created another higher low and pushed into new HH above $50 and above a strong horizontal area.
Ńow, it has started to approach another retest and the price of Altria has reached inside a possible buying area.
Technically it would be a great investment which is supported by 50EMA, strong horizontal area, mid-number $50, minor trendline, and historically a strong horizontal price zone around $50.
Do your own research and if it matches with my TA you are ready to go.
Regards,
Vaido
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