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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Jay Rommel who wrote (2048)8/7/1998 8:05:00 AM
From: Rarebird  Respond to of 6439
 
Jay, a good call on the market, yes; but a fairly conservative ( and IMO inaccurate ) price target on MO at $45. I see a pennant formation taking shape on MO's chart. What typically happens here is the stock retraces half of its previous gains before moving considerably higher in the more powerful second upleg. To complete the pennant formation takes typically 2-3 weeks with a downside bias. The second upleg, however, should take MO into the low 50's. I'm still seeing big blocks going into MO, supporting the stock at critical levels. MO is far from finished here. The next upleg should add about 18% from the previous peak of $44.5.



To: Jay Rommel who wrote (2048)8/7/1998 8:15:00 AM
From: Rarebird  Read Replies (1) | Respond to of 6439
 
MO is technically flashing an outrageous BUY signal. The 50 day moving average has just recently crossed above the 100 day moving average, which is extremely bullish. It should take about another week for the 50 day moving average to cross above the 200 day moving average, which is even more bullish. Be patient all. We are headed considerably higher!


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