MO – Altria Group, Inc.

Last updated February 21, 2019

If I’d use OEW purely than this ticker is only in (yellow) major-4 of (blue) primary III. If I use EWT than this ticker is in Primary-IV… Either way, both methods suggest a final 5th wave higher should materialize. Before we can be even sure that is correct we need to see price back above its 200d SMA, which it is not (not shown) and we need to see five waves up off the January low, followed by three waves down, which we’ve not (not shown). Hence, the burden of proof is on the Bulls. A new (marginal lower) low would IMHO be ideal to set up positive divergences on the longer-term time-scale technical indicators (not shown) to support a more sustained rally as right now also these indicators keep making lower lows and lower highs, just like price. A move above $57 from current levels will however be Bullish. So for now, its IMHO sit and wait (because I don’t like picking bottoms, but rather trade the trend; which currently is down, not up)