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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Saturday, August 29, 2009

MO - Breakout trade


I posted some longer term charts on Altria last night and thought I'd lay a basic long trade out for any newbies. I'm seeing last weeks trades as the formation of a Bull flag consoldation for a move to the next fibonacci line at 19.50.

A stop should be placed just below last weeks low of 18.01 giving a bit of room for pick-off plays by the big boys - say 17.91 or so.

Altria just INCREASED the dividend and the yield is now 7.5% on a very stable cash cow company.
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