Philip Morris International (PM) is set to release its earnings forecast on Thursday, and traders are closely watching to see if the company will continue its upward trend. The RSI Indicator for PM moved out of oversold territory on March 27, 2023, which could be a positive sign for investors. This shift may indicate that the stock is moving from a downward trend to an upward trend, making it an attractive buy for traders looking to invest.
According to A.I.dvisor, which analyzed 22 similar instances when the RSI Indicator moved out of oversold territory, in 19 of those cases, the stock moved higher. This puts the odds of a move higher at 86%, which is a positive sign for traders looking to invest in PM.
This upward trend could be driven by several factors, including the company's recent success in expanding its product offerings and increasing its market share. Additionally, Philip Morris International has been focused on growing its presence in emerging markets, where demand for tobacco products is on the rise.
Furthermore, PM has been making significant investments in research and development to create new and innovative products, such as its IQOS device, which heats tobacco instead of burning it. This product has been well-received in markets where it has been introduced, and could be a key driver of future growth for the company.
Traders are optimistic about PM's earnings forecast and the potential for the stock to continue its upward trend. The RSI Indicator moving out of oversold territory, combined with the positive track record of similar instances, suggests that there is a high likelihood of the stock moving higher. Investors may want to consider buying the stock or call options ahead of the earnings forecast release on Thursday.
The Moving Average Convergence Divergence (MACD) for PM turned positive on August 27, 2024. Looking at past instances where PM's MACD turned positive, the stock continued to rise in of 48 cases over the following month. The odds of a continued upward trend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of cigarettes and other tobacco products
Industry Tobacco