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Philip Morris International, Inc. Message Board

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  • joelm_shapiro joelm_shapiro Jan 28, 2009 11:39 AM Flag

    PM Int'l sells a lot of cigarettes

    I see a trading range in PM between $45 and $35. Standard technical analysis says that if a breakdown from that range forecasts a $10 move, same as the size of the range, giving you a $25 price target. Also, if you take PM's 52-week high and subtract a fibonacci 62% you get $21. Finally, there is a consolidation triangle forming, same as in the indexes, forecasting a move to $22. You can also see a downward sloping head and shoulders top with a $22 price target. So from a variety of TA methods, you get price targets in the low 20s. If PM trades at $22, it would yield almost 10%. A very high number to be sure, but in a market that is imploding, not out of the question.

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