The Shift in Momentum for PM (Phillip Morris)
PM has decisively broken below the uptrend trendline, signaling a significant shift in the trend. Simultaneously, the downtrend trendline has been consistently respected, suggesting mounting selling pressure.
Therefore, it is anticipated that Phillip Morris will face substantial downside pressure in the coming weeks. As a result, the price is likely to decline toward the crucial 61.8% Fibonacci support level.
Therefore, it is anticipated that Phillip Morris will face substantial downside pressure in the coming weeks. As a result, the price is likely to decline toward the crucial 61.8% Fibonacci support level.
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