PM (philip morris) seems to be in a down trend. the current 93 area, seems to be a resistance area. a break above this area will target the 96 area, but my bias here is on the short side. I believe this may be a good r/r point to enter a short trade with a possible target of 88 area.
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I really do not like where we're going with this trade either. I believe the longer term trend is bearish, but this does not show that the stock has the potential to move to 96 area.
I'll close this trade I guess today. I may short it from 96 area later on...
I'll close this trade I guess today. I may short it from 96 area later on...