NEW YORK – Shares of Philip Morris International Inc. (PM) closed in positive territory on Friday after a volatile session that saw the stock hit a new 52-week high before staging a powerful late-day comeback. This display of resilience, combined with a strong after-hours performance, points to a bullish start for the upcoming trading week.
The tobacco giant’s stock ended the day at
0.23 (0.12%). However, the daily chart reveals a more dynamic story. The stock surged in the morning to set a new 52-week high of $185.16, but then faced selling pressure that pushed it down to a low of $183.26.
Crucially, in the final hours of trading, buyers returned with conviction, driving the stock off its lows and back into the green. The positive sentiment carried over after the market’s close, with shares rising another 0.23% to $184.75 in after-hours trading.
Analysis for Monday:
The technical picture for Philip Morris is highly encouraging. Hitting a new 52-week high is a significant bullish signal, indicating strong underlying momentum. While the stock initially pulled back from that high, the powerful rally into the close shows that buyers see value and are in control.
This late-day buying, confirmed by the positive after-hours activity, suggests that the selling pressure has been absorbed. Therefore, investors should expect the stock to continue its upward trend on Monday. The momentum from Friday’s strong finish is likely to carry over, with traders potentially looking to re-test and break through the new high of $185.16.
