NEW YORK – Philip Morris International Inc. (PM) shares demonstrated significant strength on Friday, weathering intraday volatility to finish in positive territory and signal further upward potential heading into next week. The tobacco giant’s stock closed the session at
0.23 (0.12%).
More telling, however, was the activity after the bell. In after-hours trading, the stock climbed an additional
184.75, suggesting that bullish sentiment was building into the weekend.
Friday’s session was a rollercoaster for investors. The stock opened at $184.02 and quickly surged to a new 52-week high of $185.16. Following this peak, sellers stepped in, driving the price down to a daily low of $183.26. However, buyers re-emerged in the final hours of trading, staging a strong rally that erased the day’s losses and pushed the stock to a positive close.
Outlook for Monday:
The strong finish after a mid-day dip paints a decidedly optimistic picture for the start of the new trading week.
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Bullish Case (Up): The primary indicators point towards a higher open on Monday. The stock’s ability to rebound from its daily low and close positive shows underlying buying demand. The fact that it set a new 52-week high indicates strong investor confidence. The most compelling evidence is the positive momentum carrying into after-hours trading, which often serves as a good predictor for the next session’s open. Traders will likely view Friday’s late-day rally as a sign that the stock is poised for a continued move upward.
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Bearish Case (Down): While less likely, a potential downside scenario exists. Hitting a new 52-week high can sometimes trigger profit-taking from investors who bought at lower levels. If the broader market opens with a negative tone on Monday, Philip Morris could see a slight pullback as some traders decide to lock in their recent gains.
:
Friday’s trading action was a clear victory for the bulls. Despite a mid-day slump, Philip Morris not only recovered but also built momentum into the close and beyond. Given the new 52-week high and the positive after-hours performance, the path of least resistance appears to be upward for Monday’s session.
