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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.

Sunday, February 2, 2014

MO - 6month Daily

Looking shorter term on a daily bar and inserting a negative Fibonacci retracement we can see some possible trading levels of support and resistance. The major level of resistance is still the 200 day ema purple line at 35.39. Support at 33.80 and 32.26. A way to trade this on the long side would be to place a Buy order above the 200 day EMA of 35.39 as a break above this line will be bullish. Otherwise using this level as a STOP to initiate a short position. Next we'll take a look at the Pivots to see how they match up to these levels.

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