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MO Stock: Will Altria Stock Touch $40 or $50 by September End?

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MO Stock: Will Altria Stock Touch $40 or $50 by September End?
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Altria Group Inc. MO stock price took support near $42.00 and recovered approximately 4% from the swing low. It reversed upward from the lower range support and showed signs of short-term trend reversal.

MO stock price is in a downtrend but the buyers are trying to climb above the 50-day EMA. It shows that bulls are still active at lower levels and trying their best to rebound. 

Previously, Altria stock price tried multiple times to break the $46.00 hurdle. Due to certain reasons, the attempts were not successful and the price reverted down. 

Later, in mid-August, MO share price broke the crucial support of $44.00. It triggers the negative sentiment and invites further decline. 

On a higher time frame, MO stock price seems to be stuck in a wide range between $42.00 to $48.00. So, the downfall in the Altria stock halted near $42 again and buyers came forward to push the prices higher. 

However, the price will pick up momentum when buyers are able to regain the EMAs. 

Altria stock price closed the previous session at $44.08 with an intraday rise of 0.82%. The market capitalization stands at $78.22 Billion.

Will MO Stock Price Break $48.00 Before 2023 End?

MO Stock: Will Altria Stock Touch $40 or $50 by September End?
NYSE: MO daily chart by TradingView

Altria Group Inc. MO stock price is in the recovery phase and buyers are trying to sustain the higher levels. 

In the coming weeks, $46.00 will act as an immediate hurdle for the bulls. If buyers succeed in breaking the $46.00 hurdle, then the recovery might continue for some more time. 

Till Altria stock price sustains above $42.00, the buyers will remain active. The probability of a $48.00 breakout will remain high as well. However, if the situation gets worse and MO stock price drops below $42, then $40 support will be at risk.

When Will Altria Stock Price Expand Upward?

  
        

Altria stock price formed a Doji candle on a weekly time frame. It indicates indecisiveness. If the broader stock market indices recover, then it might positively impact the MO stock. 

The upward range expansion is possible by the courtesy of events like quarterly results or changes in taxation. So, investors need to be careful and aware of these events. 

The MACD curve reverses upward and displays a positive crossover indicating mild bullishness. The RSI at 51 denotes neutral territory and an equal level of tug-of-war between buyers and sellers. 

Conclusion

Altria Group Inc. MO stock price is recovering and trying to climb above the 50-day EMA. It shows that buyers are active and downside risk looks limited. 

The analysis suggests that if Altria stock price breaks the $46 hurdle, then the possibility of reaching $50 will increase. 

Technical Levels
  • Resistance levels: $46.00 and $48.00
  • Support levels: $42.00 and $40.00
Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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