- 1
Altria Group’s stock price slumped by 3.37% in the last week. - 2
Altria Group, Inc.’s stock price suffered rejection from the 50-day EMA and declined to the lower levels. - 3
The company has recently delivered a dividend of $0.98 to the investors.
Altria Group Inc. (MO stock) price is down consecutively for nine days and on track for the longest losing streak since September 2020. The stock has lost nearly 5% of its value during that time.
The Altria stock price illustrates the formation of a descending parallel channel over the daily chart. The MO stock price seemed to be rolling down after rebounding the upper and lower boundaries of the channel pattern.
One of the several factors behind the stock’s fall may be accounted as FDx Advisors’ reduction in the holdings. According to the latest SEC filing, FDx Advisors Inc. reduced its holdings in Altria Group, Inc. by 57.0% in the second quarter.
The firm sold 36,777 shares of the Altria company’s stock and is currently left with 27,780 shares. The value of FDx Advisors Inc.’s stake in Altria Group was $1,258,000 at the end of the second quarter.
MO stock option-chain analysis states that the current implied volatility in the market is 20.14% with a decrement of 0.87% in the last trading session. The nearest support of $41 has an OI of 174 open contracts on the CALL side and 175 open contracts on the PUT side indicating that none of the buyers and sellers are in domination at the CMP.
MO Stock Price Forcast By The Wall Street Analysts
Several analysts on Wall Street have different opinions about the price targets. A financial website “StockNews.com” maintained a sell rating over the Altria Group stock price.
Jefferies Financial Group lowered their price objective on Altria Group from $56.00 to $55.00 and maintained a “buy” rating for the company in a report. One analyst has given the stock a sell rating, two have given a hold rating and three have given a buy rating. Based on MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $47.50.
MO Stock Price Faces Consecutive Decline Below The Key Moving Average.
The daily MO stock price chart shows that the price suffered a rejection from the 50-day EMA and declined to lower levels indicating bearishness over the charts. The stock price trades below the 200-day EMA signaling a long-term weakness in the stock.
Currently, the overall technical opinion rating including RSI and MACD is signaling an 80% “sell” with a weakening short-term outlook on maintaining the current direction.
Conclusion
Altria Group Inc. (MO stock) price has been falling for nine days in a row, forming a descending parallel channel on the daily chart. The stock has dropped about 5% in that period. FDx Advisors Inc. sold 36,777 shares of the company in the second quarter, reducing its stake by 57.0%. The current implied volatility is 20.14%, with no clear dominance of buyers or sellers at the current price. The stock price is below the 50-day and 200-day EMA, indicating bearishness and weakness. The overall technical opinion rating is 80% “sell”.
Technical Levels
- Support levels: $41.8 and $41.14.
- Resistance levels: $44.32 and $44.99.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/09/27/can-altria-group-stock-price-nyse-mo-show-recovery-this-week/