Monday, November 9, 2009
Altria: One of the Most Bullish Charts I've Seen This Month
What jumps out to me here is that wonderfully bullish and obvious Rising Triangle. This indicates accumulation in the stock and a strong continuation in the chart. There has also already been a measured move down in the recent past, which is bullish, and it protects us from a short term pull back.
Based on chart alone, I can't say it's a buy, but get on your horse and make sure there aren't any fundamental problems with this stock. We can't wait for a pull back because support is now so close to resistance. This thing could go at any time.
Comment if you know about the fundamentals. This is just a chart that struck me as very bullish.
Good Luck,
Samba
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