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Altria Group Inc
Company Overview: Altria Group, Inc. (NYSE: MO) is a holding company that provides a portfolio of tobacco products for United States tobacco consumers aged 21+. The Company operates through two segments: smokeable tobacco products and oral tobacco products.
As per our previous US Inflation report published on ‘MO’ on 11th August 2023, Kalkine provided an ‘Buy’ stance on the stock at USD 43.92 based on “recent key business and financial updates, valuation and risk associated with the stock” and the stock price has now moved by ~13.25% since then and has attained resistance 1.
Noted below are the details of support and resistance levels provided in our previous report:
MO’s Daily Chart
Considering the current trading levels, resistance 1 attainment, RSI inside overbought levels, risks associated, and volatile market conditions on the back of higher interest rates, an ‘Sell’ rating is assigned to the “MO” at the current market price of USD 49.74 (as of 18 July 2024, at 08:50 am PDT).
Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is July 18, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.
Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’
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